Myron Schwarcz

The Federal Reserve's decision to reexamine the Durbin amendment's Regulation II raises a host of concerns for banks and credit unions over the processing of purchases made online.

Consumers, who often understand little to anything about the fees retailers pay to accept cards, will not care about the details of the fight and will place their displeasure solely on the shoulders of any large retailer that elects this strategy, writes Myron Schwarcz, executive vice president of Strategic Resource Management.