Business & Financer

What You Should Know About the Durbin Amendment


Way back in 2010, the United States was still reeling from the 2008 recession, and Congress desperately needed to do something to help struggling Americans recover. With the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Obama Administration thought they nailed it. Boasting the most significant changes to governmental financial regulation since the 1930s, Dodd-Frank strove to prevent further costly bailouts and future financial crises with a variety of provisions on the operations of financial institutions, not the least of which is outlined in the Durbin Amendment.