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The Durbin amendment also gave the Federal Reserve the power to regulate debit card interchange fees, and on December 16, 2010, the Fed proposed a maximum interchange fee of 12 cents per debit card transaction, [9] which CardHub.com estimated would cost large banks $14 billion annually. [10]
WASHINGTON (Reuters) -The U.S. Supreme Court on Monday revived a North Dakota convenience store's challenge to a Federal Reserve regulation on debit card "swipe fees" in a ruling that could make ...
WASHINGTON (Reuters) -U.S. Supreme Court justices on Tuesday grappled with a North Dakota convenience store's challenge to a government regulation on debit card "swipe fees" - a case that could ...
Debit cards and transactions in the ten states that prohibit credit-card surcharges will not be affected. Many large retailers, such as Wal-Mart and Target have opted not to impose surcharges. [12] In the event of a return, surcharges are refunded along with the purchase price of the merchandise. [13] The National Association of Convenience ...
Seniors and others receiving Social Security and other benefits, a lawsuit says, faced illegal ATM charges involving the Direct Express card. Comerica Bank faces lawsuit, accused of illegal fees ...
The annual fee of PA card can be more than three times for the ordinary card (typically ฿200 for a debit card). Many customers are often told that basic cards have run out of stock and they can only choose the PA card. [citation needed] In some cases, customers not willing to subscribe to ATM service and pay the card fees are not allowed to ...
Washington's efforts at Wall Street reform and consumer protection keep having strange and unintended consequences for Main Street businesses and customers. The Durbin Amendment, part of the Dodd ...
A payment surcharge, also known as checkout fee, is an extra fee charged by a merchant when receiving a payment by cheque, credit card, charge card, debit card or an e-money account, [1] but not cash, which at least covers the cost to the merchant of accepting that means of payment, such as the merchant service fee imposed by a credit card company. [2]