Thursday, December 16, 2010

Feds want to cap merchant debit card fees to twelve cents Per Transaction

The Federal Reserve Board staff has proposed two alternatives to debit interchange fee regulation. Both would set a maximum of 12 cents per transaction for debit cards with no apparent distinction between signature and PIN. Under one proposal, there would be a safe harbor of 7 cents, and issuers could make a case for up to 12 cents based on their actual average variable cost of authorization, clearing and settlement. Under the other proposal, issuers would have a cap of 12 cents per transaction.


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