A bill to require the Board of Governors of the Federal Reserve System to study the impacts of the proposed rule on debit card interchange fees and routing, and for other purposes.

Bill 118 s 4570, also known as the "Debit Card Interchange Fee Study Act," is a proposed piece of legislation that aims to require the Board of Governors of the Federal Reserve System to conduct a study on the potential impacts of a proposed rule regarding debit card interchange fees and routing.

The bill specifically focuses on the potential effects of the proposed rule on debit card interchange fees, which are the fees that merchants pay to banks for processing debit card transactions. The bill also aims to study the impacts of the proposed rule on debit card routing, which refers to the process by which debit card transactions are directed to the appropriate payment network.

In addition to studying these specific impacts, the bill also includes provisions for other purposes related to the regulation of debit card interchange fees and routing. Overall, the purpose of Bill 118 s 4570 is to gather information and data on the potential effects of the proposed rule on debit card interchange fees and routing in order to inform future decision-making and regulatory actions related to these important aspects of the financial system.