So, do you think would this end up costing the consumer more, in the long run?

iVillage Member
Registered: 03-09-2001
So, do you think would this end up costing the consumer more, in the long run?
4
Wed, 06-08-2011 - 9:30pm
http://m.sfgate.com/sfchron/db_/contentdetail.htm?contentguid=hBzG9aeG&src=cat

"Senate votes to let Fed trim debit card swipe fees
By ALAN FRAM, Associated Press

Posted:06/08/2011 5:35 PM
(06-08) 14:15 PDT WASHINGTON, (AP) --

The Senate voted Wednesday to let the Federal Reserve slice the fees that stores must pay banks each time a customer swipes a debit card, handing merchants a victory over banks in a lobbying battle over billions in revenue."

(Article continues....)


Blessings,

Gypsy

)O(



iVillage Member
Registered: 02-05-2011
44 cents per transaction on average? Where is the abuse our government is saving us from?
iVillage Member
Registered: 03-09-2001
As consumers we pay it in the retail prices we pay and have been all along. The banks could decide to charge people a monthly service charge per debit transaction to recoup what they can no longer charge the merchants. Banks will find a way to get their "pound of flesh." So then we'll need another law limiting what the banks can charge their customers to use their debit cards? The merry-go-round just keeps going around and consumers will *still* foot the bill one way or another, as we always end up doing.


Blessings,

Gypsy

)O(



iVillage Member
Registered: 02-05-2011
I don't consider compensation for a service as getting a pound of flesh.
iVillage Member
Registered: 03-09-2001
When it's outrageous, it is.


Blessings,

Gypsy

)O(