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

by Donna Borak and Rob Blackwell
JUN 29, 2011 6:57pm ET
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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.

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