= Subscriber content; or subscribe now to access all American Banker content.

Everybody Hates Interchange: Bankers, Retailers Object to Fed Final Rule

Although the central bank agreed to raise the cap on debit interchange fees to 21 cents, plus extra for fraud costs, bankers said it would gut profits and hurt consumers. Retailers, meanwhile, accused the Fed of giving into pressure from the financial services industry, and hinted they may sue over the rule.

To continue, please sign in or subscribe
FREE 14-DAY
TRIAL
  • Full access to banking's most comprehensive daily report
  • Daily, weekly, and topic-based newsletters and alerts
  • Award-winning analysis and insight, focused on bankers' key concerns
No credit card needed
PREMIUM
SUBSCRIPTIONS
Core subscription content plus:
  • Bimonthly industry research reports
  • Morning Scan Plus (Premium e-newsletter)
  • American Banker mobile app
Have an account?
SIGN IN HERE
Remember me