Merchants Criticize Fed For Card Fee Rulings

Merchant attorneys have criticized the Federal Reserve for setting up unreasonable debit swipe fee reforms under the Durbin Amendments.

The Fed set $0.04 a swipe as a reasonable fee, but have settled on $0.21 per swipe, plus .05 percent of the transaction and an additional cent in fraud prevention due to bank pressures, notes Finextra.

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