Banks, Retailers Renew Fight Over Debit ‘Swipe’ Fees
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Financial services lobbyists are counting on the Republican majority in the U.S. House to help them reopen the battle they lost to retailers over a proposed Federal Reserve rule that would cap debit-card “swipe” fees.
The House Financial Services Committee gave both sides a Capitol Hill forum today to address the Fed proposal, which would cap the so-called interchange fees charged to merchants at 12 cents per transaction.