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Banks Hyperventilate At Possible Loss Of $16 Billion In Debit Card Fees

Tuesday, June 7, 2011 - 8:01 AM
ShorebreakShorebreak2,674 posts since
Apr 6, 2010
Rep Points: 14,505
1. Tuesday, June 14, 2011 - 6:18 PM what IS the true cost of running a debit card for a purchase? Surely these people must know. Is it 2 cents, as NCUA says? or 7 cents, as the Fed originally  said was the cost for a "median" transaction ? Or, 12 cents as they later set the cost? It almost certainly is NOT the 44 cents the Bank Lobby claims is the cost. Like the article says, when MA BELL was around they said the cost of phone calls would go UP after they were broken up. Of course the cost dropped like a stone since!
jep1960jep196018 posts since
Jun 14, 2011
Rep Points: 65