debit-card

Federal Reserve's capping of so-called debit-card swipe fees at 21 cents from an average of 44 cents. credit quality and improved net interest income, King said in today's statement.

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Five U.S. House Democrats asked Attorney General Eric Holder on Oct. 13 to investigate whether banks and their trade groups colluded on decisions to impose new fees after the Federal Reserve, acting on a mandate of the Dodd-Frank Act, capped so-called debit-card swipe fees charged to merchants.

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No matter how much wiggle room regulators create for banks just big enough to be classified as systemically important, such financial institutions will be faced with new costs and other strains on top of rising regulatory expenses, like those on overdraft fees and debit-card payments.

Vital? Not Us, Say Small Banks Robin Sidel 2011

He added that the proposal would force about $12 billion a year from debit-card issuers to retailers.

Banks, Retailers to Face Off Over Fed's Debit-Card Rule Maya Jackson Randall 2011

The devices are typically homemade, put together by easily obtainable electronic parts, said Julie McNelley , a fraud and risk analyst at financial consultancy Aite Group, who recently attended a U.S. Secret Service presentation on debit-card fraud where the electronic devices were displayed.

Thieves Swipe Debit Card Data Ann Zimmerman 2011

The Fed proposal would cap the debit-card transaction fees, also called swipe fees or interchange fees, at 12 cents per transaction, a significant drop from the current 44-cent-per-transaction average that would eat into banks' debit-card fee profits.

Banks, Retailers to Face Off Over Fed's Debit-Card Rule Maya Jackson Randall 2011

Mr. Floum argues that the Fed's proposal goes against President Obama's call for innovation because it favors government price controls and would lead to less investment in technology that could improve debit-card programs.

Banks, Retailers to Face Off Over Fed's Debit-Card Rule Maya Jackson Randall 2011

Among the alleged scams: surreptitious installation of sophisticated credit-card and debit-card scanning devices at Southern California outlets of a discount retail chain, 99 Cents Only Stores .

Big Bust Targets Armenian Gang John R. Emshwiller 2011

WASHINGTON — Federal banking regulators, echoing an outcry from the financial industry, on Thursday said small banks could be hurt by a controversial plan to curb the debit-card processing fees banks charge merchants.

Debit-Card Fee Plan May Hurt Small Banks Jessica Holzer 2011

WASHINGTON — Financial firms, at a Capitol Hill hearing Thursday, will urge lawmakers to block the Federal Reserve from moving forward on a plan to limit the debit-card processing fees banks charge retailers, the latest move in their persistent battle against the nation's merchants.

Banks, Retailers to Face Off Over Fed's Debit-Card Rule Maya Jackson Randall 2011