Fed rule proposal would provide relief from debit card swipe fees

Debit card processing fees topped $16 billion in the U.S. last year -- a cost that businesses pass along to consumers in the form of higher prices. Last week, the Federal Reserve proposed a regulation that would cap fees at no more than 12 cents per swipe, instead of today's standard of 1% to 2% of the transaction amount. If implemented, the change would go into effect in July. BusinessNewsDaily.com (12/17)

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