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Dodd-Frank Requirements for Transaction Processing

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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

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