“The 2010 Dodd-Frank law called for the Fed to cap such fees, which banks charge to retailers when their customers use debit cards to make purchases. Judge Richard Leon of the U.S. District Court for the District of Columbia sided with retailers, who argued the Fed’s 21 cent cap was higher than Congress intended. The so-called Durbin amendment to Dodd-Frank, named for its sponsor, Democratic Senator Richard Durbin of Illinois, was intended to reduce burdens on retailers and hopefully trickle down to consumers in the form of lower prices.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Mexico’s peyote casts mind-bending spell on tourists
Britain Apologizes for Role in Libyan Dissident’s C.I.A. Nightmare
Ron Paul: Bitcoin could 'go down in history as destroyer of the dollar'
Suicide of Deloitte partner Daniel Pirron linked to Standard Chartered's Iran scandal
Swiss middle class real income continues to rise
Fund manager Ned Goodman ditches bank stocks for gold
Guardian Editor Says Paper Published Only 1% of Snowden NSA Leaks
5th Cincinnati IRS worker allegedly connected to scandal
Muslim Brotherhood may go back underground to survive Egyptian military crackdown
Google Said to Mull Designing Chips in Threat to Intel
Afghan villagers flee their homes as US drones terrorize them
Sacre bleu! Poor weather ruins 2013 wine grape harvest in France
Regulator on Bitcoin: Same Rules Apply
UK’s deficit ‘could be bigger than Greece's’
Man dead after police called for help taser, choke & drag him down a staircase