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Tag Archives: interchange Fees

Lobbyists Battle Debit Card Charges

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ProPublica Controversy over the Fed’s proposed debit card regulations has largely focused on the proposed cap on interchange fees-the fees banks receive from merchants for processing debit transactions. That provision has sparked an all-out lobbying war between merchants who think interchange fees are too high and banks who accuse the government of attempting to fix prices. Even the small banks and ... Read More »

    Bank Groups Try to Scare Consumers Using Twitter

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    by Marian Wang, ProPublica It’s April 21, and another Dodd-Frank deadline has come and gone. Today was the day the Fed’s regulations on debit card transaction fees, also known as interchange fees, were supposed to be finalized. Hasn’t happened. Controversy over the regulations caused the Fed to postpone finalizing the rules. But that win alone wasn’t enough for the banks, ... Read More »

      Behind the Battle Over Hidden Debit Card Fees

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      by Marian Wang, ProPublica A provision within the financial reform bill that would regulate debit card transaction fees could be postponed by a year or two following fierce objections from banks. Specifically, banks large and small are objecting to a Fed proposal to limit what are known as interchange fees — the fees they collect from merchants every time a ... Read More »

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