US central bank wants debit card transaction charges reduced.
M2 EQUITYBITES-October 26, 2023--US central bank wants debit card transaction charges reduced
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Global Banking News - 26 October 2023
The US Federal Reserve (Fed), the nation's central bank, is proposing changes that would lower the charges that banks levy on debit card transactions.
On Wednesday, the central bank proposed measures that would reduce swipe fees by a third. The fee is what banks can charge merchants for processing debit-card transactions. It is worth billions of dollars for banks. The Fed is backing the proposal with data that shows that costs for such transactions...
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