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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?

Russia Today

June 9, 2011

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

Russia Today


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