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Banks biting back

Proposed debit card regulations have pitted the nation’s financial institutions against retailers — but consumers could be the ones caught in the middle. At issue is more than $12 billion in annual debit card processing fees, money that merchants pay to banks to process debit card transactions. The regulations, part of the Dodd-Frank legislation that… Continue Reading Banks biting back

Banks are in the midst of a misbegotten, last-ditch effort to protect the billions of dollars they make each year from debit-card “interchange fees,” the charges they hit businesses with each time a consumer swipes their card. The financial-overhaul bill approved by the U.S. Senate last month includes an amendment that would limit just how… Continue Reading Spare small businesses and lower debit-card fees

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More than half a million retailers will get an early holiday gift this year. Checks totaling more than $1 billion will be mailed to more than 635,000 retailers as part of a federal judge’s approval of an early payout of money remaining from a 2003 settlement of a class action suit against Visa and MasterCard’s… Continue Reading Retailers receive early holiday gift from Visa, MasterCard

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