12 CFR 235.6 - Prohibition on circumvention, evasion, and net compensation.

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§ 235.6 Prohibition on circumvention, evasion, and net compensation.

(a) Prohibition of circumvention or evasion. No person shall circumvent or evade the interchange transaction fee restrictions in §§ 235.3 and 235.4.

(b) Prohibition of net compensation. An issuer may not receive net compensation from a payment card network with respect to electronic debit transactions or debit card-related activities within a calendar year. Net compensation occurs when the total amount of payments or incentives received by an issuer from a payment card network with respect to electronic debit transactions or debit card-related activities, other than interchange transaction fees passed through to the issuer by the network, during a calendar year exceeds the total amount of all fees paid by the issuer to the network with respect to electronic debit transactions or debit card-related activities during that calendar year. Payments and incentives paid by a network to an issuer, and fees paid by an issuer to a network, with respect to electronic debit transactions or debit card related activities are not limited to volume-based or transaction-specific payments, incentives, or fees, but also include other payments, incentives or fees related to an issuer's provision of debit card services.

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United States Code
U.S. Code: Title 15 - COMMERCE AND TRADE

Title 12 published on 2015-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR Part 235 after this date.

  • 2015-08-14; vol. 80 # 157 - Friday, August 14, 2015
    1. 80 FR 48684 - Debit Card Interchange Fees and Routing
      GPO FDSys XML | Text
      FEDERAL RESERVE SYSTEM
      Clarification.
      Effective August 14, 2015.
      12 CFR Part 235