4:00am

Thu June 9, 2011
Business

Senate Agrees To Cut In Debit Card Fees

How much you pay when you swipe your debit card will now be capped by the Federal Reserve. That's despite an effort in the Senate to delay new regulations over how much banks can charge for debit card transactions. Both banks — which collect those so-called swipe fees — and retailers — who pay them — mounted an intense lobbying effort.

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