Amendment to curtail "swipe fees" is approved by Senate

05/14/2010 | Wall Street Journal, The · Washington Post, The

Lawmakers approved an amendment offered by Sen. Richard Durbin, D-Ill., that would give the Federal Reserve the power to regulate the interchange fees paid by merchants to credit card issuers. The measure was not included in the House's version of the bill and is expected to be challenged in negotiations over the final version of the regulatory-overhaul bill.

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Wall Street Journal, The · Washington Post, The

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