Wednesday, June 29, 2011

Fed May Loosen the Debit Card Swipe Fee Rules to Help Banks

 Bank lobby says Fed has flexibility to limit cuts to fees they charge 
 (from MarketWatch on 6-29-2011) 
 
By Ronald D. Orol, MarketWatch

WASHINGTON (MarketWatch) — The Federal Reserve may provide some moderate relief to banks when it votes Wednesday afternoon to adopt a controversial debit-card rule that is set to shift billions of dollars in revenue from financial institutions to merchants.
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