Congress Introduces Bills To Delay Debit-Card Swipe Fee Regulation

From Bloomberg via Boston.com:

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.