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Merchant money Advance business is going to be Affected
The Merchant Processing industry is Facing Reforms that will Affect All Americans
On December 16th, 2010 the Federal Reserve informed the largest banks and electronic payment networks of their proposed changes and regulations. This was prompted by the Durbin Amendment of the Wall Street Reform and Consumer Protection Act back in July. The act mandated the creation of a governing council of the electronic payment business.
The nearly 200 page proposal outlines a detailed research of the merchant processing industry, how it works, the technologies involved, along with the respective costs.
The Federal Reserve employed a quite dependable source to get this information, the banks themselves. Over the course of several months, surveys were condu ...[ ]
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