Davis says U.S. Bancorp faces $1B in lost revenue from new rules

06/3/2011 | Bloomberg

Richard Davis, chairman and chief executive officer at U.S. Bancorp, said the company faces more than $1 billion in lost revenue annually from proposed regulations, including limits on debit card transaction fees. "That's a pretty big loss of income," Mr. Davis said, noting that the figure includes revenue lost from overdraft and late-payment fees and limits on interest-rate increases.

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