On Thursday the Federal Reserve will unveil a proposed rule to limit debit card #swipefees


This Thursday, December 16, the Federal Reserve is unveiling a proposed rule to limit swipe fees on debit cards. The meeting will be available during a live webcast beginning at 2:30 pm EST.

To register to view the meeting live, click here.

NACS will provide a full analysis of the Feds’ draft regulations. 

As reported in Friday’s “Washington Report,” The debit rulemaking was authorized as part of the Wall Street Reform and Consumer Financial Protection Act, which requires that the Federal Reserve write standards to ensure that debit card swipe fees charged by the megabanks — those in excess of $10 billion in assets — be “reasonable and proportional” to the actual cost to process a transaction

[via NACSOnline]

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