Page:United States Statutes at Large Volume 124.djvu/2096

 124 STAT. 2070 PUBLIC LAW 111–203—JULY 21, 2010 ‘‘(III) the available and economical means by which fraud on electronic debit transactions may be reduced; ‘‘(IV) the fraud prevention and data security costs expended by each party involved in electronic debit transactions (including consumers, persons who accept debit cards as a form of payment, finan- cial institutions, retailers and payment card net- works); ‘‘(V) the costs of fraudulent transactions absorbed by each party involved in such trans- actions (including consumers, persons who accept debit cards as a form of payment, financial institu- tions, retailers and payment card networks); ‘‘(VI) the extent to which interchange trans- action fees have in the past reduced or increased incentives for parties involved in electronic debit transactions to reduce fraud on such transactions; and ‘‘(VII) such other factors as the Board con- siders appropriate. ‘‘(6) EXEMPTION FOR SMALL ISSUERS.— ‘‘(A) IN GENERAL.—This subsection shall not apply to any issuer that, together with its affiliates, has assets of less than $10,000,000,000, and the Board shall exempt such issuers from regulations prescribed under paragraph (3)(A). ‘‘(B) DEFINITION.—For purposes of this paragraph, the term ‘‘issuer’’ shall be limited to the person holding the asset account that is debited through an electronic debit transaction. ‘‘(7) EXEMPTION FOR GOVERNMENT-ADMINISTERED PAYMENT PROGRAMS AND RELOADABLE PREPAID CARDS.— ‘‘(A) IN GENERAL.—This subsection shall not apply to an interchange transaction fee charged or received with respect to an electronic debit transaction in which a person uses— ‘‘(i) a debit card or general-use prepaid card that has been provided to a person pursuant to a Federal, State or local government-administered payment pro- gram, in which the person may only use the debit card or general-use prepaid card to transfer or debit funds, monetary value, or other assets that have been provided pursuant to such program; or ‘‘(ii) a plastic card, payment code, or device that is— ‘‘(I) linked to funds, monetary value, or assets which are purchased or loaded on a prepaid basis; ‘‘(II) not issued or approved for use to access or debit any account held by or for the benefit of the card holder (other than a subaccount or other method of recording or tracking funds pur- chased or loaded on the card on a prepaid basis); ‘‘(III) redeemable at multiple, unaffiliated mer- chants or service providers, or automated teller machines;