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Thursday, November 1, 2012

Durbin Amendment Causes Parking Fee Increases

Parkmobile USA, a mobile payments company with an exclusive contract for D.C. municipal parking areas, told customers in an email last week that parking transaction fees would rise to 45 cents from 32 cents beginning October 29 as a result of the Durbin Amendment—a provision of the Dodd-Frank Act. The email stated:
[The added costs are] triggered by recent federal legislative reform enacted by the Dodd-Frank Wall Street Reform and Consumer Protection Act’s Durbin Amendment.
The company retracted its statement after being contacted by Senator Durbin.

Read more by following the link in the ABARegPolicy twitter feed on the right of the Dodd-Frank Tracker homepage.

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