My favorite quarterly payments industry update has been released. I am a bit late in posting it due to a few client obligations, but better late than never.
Again, this is from my long-time colleague John MacAllister at Dorado Industries. As always, it is a snarky review of the payments industry happenings over the past few months.
This quarters’ editorial is focused not directly on Dodd-Frank, as one would expect, but instead on the appointment of the Fed as the governing body to dictate reasonable and proportional Interchange rates (in an editorial entitled WTF (Why the Fed)?):
In light of Durbin’s direction to the Fed to consider the functional similarities between debit and checks, we’re more than a bit nervous that the Fed bean counters might dust off their pre-1980 cost analysis techniques and cause some real damage.
You can view the report here on LinkedIn, but we are also making the PDF directly available: