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Debit card fee fight heads to Senate show down vote
Washington AP reports a Senate showdown over blocking Fed fee caps on debit card transactions. Merchants say current interchange costs raise prices and hinder hiring, while banks warn cuts could reduce revenue and raise checking fees. Durbin leads, with Tester and Corker backing delay to study the rule.
MENTIONED IN THIS ARTICLE
Washington
Senate
Federal Reserve
Mark Pryor
D-Ark
Fed
Richard Durbin
Illinois
Jon Tester
D-Mont
Bob Corker
R-Tenn
Durbin
House
Barack Obama
Congress
Tester
Corker
Kay Hagan
D-N.c
Mike Crapo
Idaho