April 13 at 12:29 p.m.
Filed under:
Banking,
Government
By CNN
Sen. Dick Durbin, left, has criticized JPMorgan Chase CEO Jamie Dimon for his bank's swipe fees, among other issues. (Michael Tercha/Chicago Tribune; Bloomberg News)
JPMorgan Chase CEO Jamie Dimon, who is critical of a key provision in the financial reform law, has been taken to task by U.S. Sen. Dick Durbin (D.-Ill.) in a scathing letter.
“There is no need for you to threaten your customers with higher fees when you and your bank are already making money hand-over-fist,” Durbin wrote to Dimon about the threat of higher debit card fees. “And there is no need to make such threats in response to reform that simply tries to spare consumers from bearing the cost of interchange fees that are anticompetitive and unreasonably high.” Get the full story »
Feb. 18 at 6:09 a.m.
Filed under:
Banking
By Dow Jones Newswires-Wall Street Journal
Top U.S. regulators said Thursday that small banks could be hurt by new limits on debit-card fees, comments that could fuel efforts to delay or change a provision in the Dodd-Frank financial-overhaul law.
The provision directs the Federal Reserve to cap “swipe fees” that debit-card issuers charge merchants each time a customer pays with a debit card. Banks and credit unions with less than $10 billion in assets, however, are exempted from the limit and can charge higher fees. Get the full story »
Feb. 9 at 5:43 p.m.
Filed under:
Credit Cards,
Economy,
Policy,
Politics
By Reuters
The Federal Reserve may give U.S. banks insight into whether it will scale back its proposed crackdown on debit card processing fees, when a top official testifies before a congressional panel next week. Get the full story »
