Interchange fee changes are expected to hit regional banks

07/20/2010 | CNNMoney

Bank of America recently warned that the regulatory-reform legislation, particularly the so-called Durbin amendment, will have a significant effect on the bank's bottom line. The Durbin amendment, which is named after Sen. Richard Durbin, D-Ill., limits fees merchants pay to banks on debit card swipes. However, the limit on interchange fees is expected to hit Regions Financial, KeyBank, Fifth Third and other major regional banks much more than Bank of America and the other retail giants.

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