Zywicki Op-ed in Forbes
In an opinion piece in Forbes, Professor Todd Zywicki and his co-authors Geoffrey Manne and Julian Morris argue for the repeal of the Durbin Amendment.
“What has been the Durbin Amendment’s effects? Two-and-a-half years after the Durbin Amendment’s implementation the evidence is in: According to a new study we authored for the International Center for Law and Economics, we found that consumers are paying more and getting less as a result of the Durbin Amendment, and that low-income consumers have suffered the most. Moreover, while big box retailers have seen billions in savings in lower interchange fees already, there is no evidence that they have passed-through any of their windfall to consumers, nor have small businesses benefited.”
How To Help The Unbanked? Repeal The Durbin Amendment, Forbes, August 4, 2014. By Todd Zywicki, Geoffrey Manne & Julian Morris.