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Congress Introduces Bills To Delay Debit-Card Swipe Fee Regulation

Wednesday, March 16, 2011 - 6:11 AM
From Bloomberg via
A bipartisan group of nine US senators has signed on to legislation to delay a Federal Reserve proposal that would cap debit-card "swipe" fees.

This Senate legislation would delay the Fed rule by 2 years. A similar House bill would delay it by 1 year. Both bills would require several of the banking agencies to conduct impact studies.

A delay would be good news for reward checking accounts.
Ken TuminKen Tumin5,473 posts since
Nov 29, 2009
Rep Points: 125,800