The Durbin Effect: Impact of the Financial Services Reform on Data Security

On July 21, 2010, the Wall Street Reform and Consumer Protection Act was signed into law. This far-reaching legislation impacts many aspects of financial services, and this panel will discuss one element, the so-called Durbin Amendment which calls for price caps on debit interchange fees. Panelists will explore long-term issues stemming from this new law, specifically the potential to impact payment security. Will a reduction in financial institution debit card revenue reduce future innovations and investments in new technology or force them to create more efficiency through tighter transaction screening? If merchants realize any acceptance cost reduction as a result of the regulation, will the savings be applied to stronger security at the point-of-sale or go straight to the bottom line?

 

Moderator: David Evans, author and founder of Market Platform Dynamics

John Berlau, Director of the Center for Investors and Entrepreneurs, CEI

Gray Taylor, Executive Director of NACS Security Standards Board

Aaron McPherson, Practice Director, IDC Financial Insights

 

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