JPMorgan, BofA, Wells Fargo, PNC Explore Buying Fiserv's STAR/Accel Debit Network to Sidestep Durbin Caps
- JPMorgan Chase, Bank of America, Wells Fargo and PNC Financial are in preliminary talks to acquire Fiserv's STAR and Accel debit-card networks, which would let the banks process transactions on owned rails and potentially escape the Durbin Amendment's interchange-fee caps, the WSJ reported.
- Some lenders are already leaning against a deal over concerns about regulatory, political and merchant backlash, and no agreement is imminent; talks remain tentative and early-stage (WSJ, July 6).
- The move would mark the biggest shake-up of U.S. debit payments infrastructure since the Durbin rules took effect and echoes Visa/Mastercard-style network economics now being pushed back toward the banks.