Durbin's Law refers to a provision in the Durbin Amendment, which was part of the Dodd-Frank Wall Street Reform and Consumer Protection Act enacted in 2010. This law aims to regulate the fees that banks can charge merchants for processing debit card transactions. Specifically, it limits the interchange fees to a reasonable level, promoting competition and reducing costs for retailers. The law was designed to benefit consumers by lowering prices and increasing transparency in the payment processing industry. By capping these fees, Durbin's Law encourages more competition among payment processors and aims to enhance the overall efficiency of the debit card market.