Frederick Douglass

"Power concedes nothing without a demand. It never did, and it never will. Find out just what people will submit to, and you have found out the exact amount of injustice and wrong which will be imposed upon them..." Frederick Douglass

Sunday, July 3, 2011

At Behest of Banks, Fed Relaxes Debit Card Regs in Final Rule

After their efforts, the rules were loosened and their implementation delayed until October. But banks have warned that they still plan to increase consumer fees.

“Consumers will still see higher fees for basic banking services, and banks—particularly community banks—will still feel the revenue pressures that this rule will cause,” American Bankers Association president Frank Keating said in a statement [13]. “We will continue to aggressively advocate for remedies that will mitigate any harm caused by this regulatory action.”


http://www.propublica.org/blog/item/at-behest-of-banks-fed-relaxes-debit-card-regs-in-final-rule