Bankers’, merchants’ debit card fight hits US Senate

posted by
June 7, 2011
Forbes    
Posted in News, PND News

"In a heavily lobbied fight pitting financial institutions against merchants, supporters of the nation's banks pushed Tuesday toward a Senate vote aimed at blocking a government plan to cap the fees that stores must pay banks whenever a customer swipes a debit card. Both sides claimed to represent consumers' interests in the high-stakes battle over the $16 billion yearly that the Federal Reserve says stores give banks in those fees." (06/07/11)

http://tinyurl.com/6b8smpa  

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