Interchange Fee Prohibition Act: Implications for All Banks
The regulatory landscape is shifting once again, and this time interchange is in the spotlight. The Interchange Fee Prohibition Act, introduced in...
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1 min read
Dr. Art Harper
:
9/4/25 2:21 PM
"Fair Banking for All" is a strategic principle focused on ensuring equitable, inclusive, and transparent access to financial services. For credit and debit card programs, this vision necessitates that financial institutions design and manage products that remove systemic barriers and empower underserved populations—while remaining compliant with regulatory standards and aligned with community needs.
Here are some of the key strategic areas for financial institutions to focus on with their credit and debit card optimization programs.
Inclusive Product Design
Transparent Pricing & Communication
Financial Education & Community Investment
Alternative Credit Risk Models
Accessible Digital Experiences
Regulatory Alignment & ESG Integration
Complaint Resolution & Advocacy
Based off using these components of setting up their credit and debit program, how will the financial institution know they are successful not just internally yet externally within their community? The financial institution can utilize the following areas to measure their success through:
Conclusion
Financial institutions working to embed "Fair Banking for All" into their card programs is not just a regulatory imperative, it’s a growth opportunity. Organizational leaders must integrate fairness into every phase of design, underwriting, and servicing to build trust and broaden market impact. If you need assistance, please feel free to reach out to Engage Fi for a conversation on setting up a robust card program and payments strategy consulting. We are here to assist in your debit and credit card engagement growth and success.
The regulatory landscape is shifting once again, and this time interchange is in the spotlight. The Interchange Fee Prohibition Act, introduced in...
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With as much as 40% of an institution's Net Interest Income coming from payments, banks and credit unions cannot afford to get it wrong.