Regulatory Alerts2025-12-19
Federal Reserve Board 2023 Biennial Report on Debit Card Interchange Fees, Issuer Costs, and Fraud Losses
The Federal Reserve Board published its biennial report mandating disclosure of debit card interchange fees, issuer costs, and fraud losses under Regulation II. Analyzing data from 13 payment card networks and 166 covered issuers for 2023, the document records 100.7 billion transactions valued at $4.7 trillion, with total interchange fees reaching $34.12 billion and fraud losses averaging 17.6 basis points. Prepaid and card-not-present transactions drove volume growth, while average per-transaction authorization, clearing, and settlement costs remained at $0.041, staying below the statutory fee cap for nearly all covered issuers.
Share