Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts

As Fee Fights Heat Up, Where Are Retailers?

Wednesday, November 2, 2011 - 2:56 PM
“To my knowledge not one major (or for that fact minor) retailing establishment is offering consumers rebates for using debit cards,” ... “In fact, the Durbin Amendment is doing what it was supposed to do. It is giving a $12 billion windfall profit to the retailing industry at the expense of the banks.”

“No media group has asked why the retailers are keeping this money and not passing it along to the consumers. Numbers of populist commentators have been immediate in their reaction against banks charging for the debit cards but not one has asked where the consumer benefit has gone.”

 “If the retailers continue to hold on to the debit card rebate, the consumer is being ripped off.”

As Fee Fights Heat Up, Where Are Retailers? | Fox Business
8
mariafaltermariafalter57 posts since
Jun 6, 2010
Rep Points: 222
Reply