Interchange-fee cap to hit BofA, Wells Fargo, JPMorgan

06/28/2010 | Bloomberg

Moody's Investors Service estimates that the three largest debit card issuers in the U.S. -- Bank of America, JPMorgan Chase and Wells Fargo -- could face lost revenue of $1.38 billion annually due to the proposal to limit interchange fees. The financial-overhaul bill would give the Federal Reserve the authority to set the fees.

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