AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
2min chapter
452. Insights: Banking as a Service - the tech behind fintech
Fintech Insider Podcast by 11:FS
The Durbin Amendment - What Is It?
The Durbin Amendment is an amendment which regulates or puts a cap on the total amount of interchange fees that you're allowed to charge on a typical debit card transaction. Now there is a special carve out within that regulation that says that banks with under $10 billion in total assets are allowed to charge higher fees on their debit transactions. And that's created a real opportunity for smaller community banks to license out their platform in conjunction with Galileo as they go to market. It allows them to achieve the economics that make the demand deposit accounts actually viable from a unit economic perspective.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode