STAMFORD, Conn., June 16, 2011 —The recent legislative and regulatory reforms impacting financial institutions, including the Durbin Amendment which is expected to go into effect on July 21st, could eliminate up to $14 billion in annual revenue from banks and credit unions. (1) The loss of this vital revenue stream comes as average account profitability has fallen up to 15%, and as consumers become increasingly sensitive to the pricing of programs and services from their financial institutions.
Affinion Group, which creates....