Supreme Court to Rule on Debit Card Swipe Fees: What it Means for Consumers
The Supreme Court has agreed to hear a case that calls for the Federal Reserve to reduce debit card “swipe fees.” This move follows an amendment by Senator Dick Durbin (D-Ill.) to the 2010 Dodd-Frank Act, which instructed the Fed to establish a “reasonable” cap on fees charged by banks to merchants for each debit …