Reform may cost Bank of America; stock sinks – Business – The Times-Tribune


[WayTooHigh Comment: I was surprised to read this article, blaming the debit card reforms for B of A’s stock decline on Friday of 9%. The terms and complete background were known for weeks. A larger issue is the bank’s and the entire credit card industry’s liability for what could be the nation’s largest class-action antitrust price-fixing litigation over merchant credit/debit card interchange #swipefees]

Bank of America is bracing for a multibillion-dollar hit from new, federally imposed limits on debit-card interchange fees that issuers such as Bank of America levy on merchants for rights to use their payment network.

READ ARTICLE via Reform may cost Bank of America; stock sinks – Business – The Times-Tribune.

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