As the Ink Dries on Dodd-Frank, Merchants Gird for Interchange Battle (via Digital Transactions)


(July 21, 2010) As President Obama signs the Dodd-Frank Wall Street Reform Act of 2010 into law on Wednesday, at least one major merchant interest group has already fired the opening shot in what promises to be an all-out battle over the fees banks earn on debit card transactions. At the center of that fight are the Federal Reserve Board and a little-noted provision in the new law that has the potential to erase the bulk of the estimated $15 billion debit cards generate in interchange revenue.

via News.

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