SecuritySlashdotabout 2 hours ago
Banks Eye Debit Card Fee Loophole
2 min read
JPMorgan, Bank of America, Wells Fargo, and PNC are exploring acquiring Fiserv's debit-card networks STAR and Accel. A federal law caps debit transaction fees for big banks only when routed through an outside network. Bank-owned networks face no such caps, creating a potential loophole.
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