NEWS V/MA

Fed staff proposes 12-cent cap on debit card fees

WASHINGTON, Dec 16 (Reuters) - U.S. banks and other debit 
card issuers would be allowed to charge retailers up to 12 
cents per transaction, under a Federal Reserve staff proposal 
released on Thursday and designed to crack down on the 
multibillion dollar industry. 
    The proposed limit on so-called debit "interchange" fees 
seeks comment on two alternative fee structures, but both limit 
the maximum fee amount to 12 cents per transaction. 
    It also seeks comment on how to adjust fees based on fraud 
prevention costs. 
    The Fed board is expected to vote shortly on the staff 
proposals, with a comment period that would end Feb. 22. 

TRITANGOTRADERS.COM