Banks unite over desire for debit card fees to be left alone

06/4/2010 | Bloomberg

Major financial institutions and small banks are presenting a united front against proposed changes to debit card fees. The industry is trying to get lawmakers to kill an amendment to the financial-revamp bill that would give the Federal Reserve the power to limit interchange fees. Major retailers and 64 senators supported the provision in May, making it an uphill battle for the banking industry.

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