Federal Reserve Confirms: Consumers Could Pay for $16 Billion Retailer Windfall

Electronic Payments Coalition | December 16, 2010

The Federal Reserve has been limited a rushed, politically-motivated action from Congress. The Federal Reserve acknowledged, both in today’s meeting and in the staff memo to the Federal Reserve Board, that this government price fixing could result in significant additional fees on debit cardholders – with no guarantee that merchants will pass any savings to their customers.

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