News release: “The Federal Trade Commission issued a report to Congress explaining steps the agency has taken in connection with new rules on debit card transactions that were put in place last year by the Federal Reserve Board as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The FTC shares authority to investigate and enforce the new Dodd-Frank requirements with other financial regulators. The Commissions enforcement work generally focuses on the conduct of payment card networks and certain other non-bank entities. Regulations related to payment card network exclusivity and routing became fully effective in April 2012.”
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