Debit card swipe fees not going anywhere

Wednesday, March 06, 2013
Store credit/debit card reader

The government will not be cutting the fees charged for swiping your debit card.

Merchants and the financial industry are divided over the Federal Reserve bank's rule on swipe fees.

Retailers wanted lower fee limits.

Banks and debit card companies say the cap on fees works against consumers because it forces the industry to scale back on free checking programs and other consumer banking rewards.

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