Senator proposes limiting credit-card swipe fees – MarketWatch


CHICAGO (MarketWatch) — Rules governing the price merchants pay for consumers’ credit-card payments are likely to be debated as part of the sweeping financial reform bill making its way through the Senate.

Sen. Dick Durbin, D-Ill., introduced three amendments to the bank-reform bill to control how much credit-card issuers charge merchants when consumers pay with a credit card. If enacted, the proposals would sharply dent the more than $40 billion in fees collected annually by card-issuing banks.

via Senator proposes limiting credit-card swipe fees – MarketWatch.

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