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Banks, retailers to face off over Fed's debit card rule

from The Wall Street Journal

Financial firms, at a recent Capitol Hill hearing, urged lawmakers to block the Federal Reserve from moving forward on a plan to limit the debit card processing fees banks charge retailers, the latest move in their persistent battle against the nation's merchants. Retailers, meanwhile, are poised to vigorously defend the legislation as a much-needed intervention in a flawed pricing system. more


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