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Dodd-Frank Swipe Caps Slow Growth, End Rewards: One Year Later

Less than a month after the Federal Reserve approved Dodd-Frank Act rules capping debit-card swipe fees, the limits on so-called interchange are looking like a compromise that displeases almost everyone.

Big banks such as JPMorgan Chase & Co. are looking for ways to make up for $8 billion in lost revenue, payment networks including Visa Inc. are forecasting slower growth and smaller retailers are questioning whether the change will boost their bottom lines. Meanwhile, there is little specific discussion among big retailers of any benefits for consumers.