Skip to content

Dodd-Frank Requirements for Transaction Processing

Answered by: 

Question: 
Does the Durbin Amendment (Dodd-Frank Act) require all banks to adopt PIN-debit (versus signature) transaction technology?
Answer: 

No. The requirement may require that cards be capable of providing multiple routing options, but there is nothing in the law that prohibits the use of signature-based authentication for debit card transactions.

First published on BankersOnline.com 3/14/11

First published on 03/14/2011

Filed under: 
Filed under technology as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics