House Democrats Ask Justice Department to Probe Debit Fees
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Five House Democrats asked Attorney General Eric Holder to investigate whether U.S. banks and their trade groups colluded on decisions to impose new fees in response to caps on what they can charge for using debit cards.
“Statements made by individual banks and their trade associations raise questions about whether some price increases that have occurred this year have actually been coordinated,” Representative Peter Welch, a Vermont Democrat, wrote in a letter sent to Holder today. Representatives John Conyers of Michigan, Raul Grijalva of Arizona, Keith Ellison of Minnesota and Mike Honda of California also signed the letter.