On
Wednesday, 22 June 2011, the Federal Reserve voted to cap
the debit card transaction fees that banks can charge
retailers. The fee, which used to be .44 cents, will now be
no more than .24 cents per transaction. The end result
is that retailers will be able to keep about 50% of the
feeds they would normally pay to the banks. More in
the pockets of small businesses is a good thing.
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