Cap On Debit Swipe Fees Will Hurt Consumers


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by Halah Touryalai

The nation’s retailers scored a big victory against the nation’s largest banks yesterday when the Senate voted to move forward with a rule to cap debit card swipe fees. The so-called Durbin amendment puts a limit on fees banks charge retailers, like Wal-Mart for instance, every time consumers like you and I use our debit cards there.
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