Editorial: Don’t delay much-needed reform on bank “swipe fees” – Chicago Sun-Times


Each time someone uses a Visa or MasterCard debit card, the bank that issued the card charges a fee of 40 cents to 45 cents or more, though the Federal Reserve found the actual processing cost is only 4 cents. Because consumers typically use debit cards for smaller transactions while putting the big stuff on their credit cards, debit card swipe fees can take a significant bite out of a retailer’s profits.

via Editorial: Don’t delay much-needed reform on bank “swipe fees” – Chicago Sun-Times.

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