Senate Showdown Over Limiting Debit Card Fees

Townhall.com Staff
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Posted: Jun 08, 2011 8:35 AM
Senate Showdown Over Limiting Debit Card Fees
Lawmakers are facing a tough vote in the Senate Wednesday, as they decide whether to block the Federal Reserve from capping fees that stores pay banks every time a shopper swipes a debit card.

With consumers caught in the middle, lawmakers are weighing whether to side with the banks or the retail lobby -- both powerful forces back home. The vote on the amendment, set for Wednesday afternoon, is expected to fail but the final tally could be very close. And members are not happy about having to go on record on the issue.