Wall Street Finally Lost a Battle, but Only Because it Was Up Against Another Giant

Wall Street Finally Lost a Battle, but Only Because it Was Up Against Another Giant

Wall Street Finally Lost a Battle, but Only Because it Was Up Against Another Giant

A new law requires the Feds to limit “swipe fees”—sums that banks charge retailers when a customer uses a debit or credit card at their store. Will consumers benefit from this?

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Wall Street finally lost a battle, but only because it was up against another giant: the retail industry. The Nation’s George Zornick joined RTAmerica to discuss an amendment to a bill that requires the Feds to limit “swipe fees”—sums that banks charge retailers when a customer uses a debit or credit card at their store. How will consumers fair in all of this?

To read Zornick’s report from just before the amendment passed, click here.

—Sara Jerving

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