Comment by astura
6 hours ago
Legislation to cap fees.
The European Union caps consumer card interchange fees at 0.2% for debit cards and 0.3% for credit cards
https://eur-lex.europa.eu/EN/legal-content/summary/fees-for-...
6 hours ago
Legislation to cap fees.
The European Union caps consumer card interchange fees at 0.2% for debit cards and 0.3% for credit cards
https://eur-lex.europa.eu/EN/legal-content/summary/fees-for-...
And the US already capped debit card fees back in 2010:
https://en.wikipedia.org/wiki/Durbin_amendment
This is explicitly about credit card fees.
Not for all banks
Can the courts cap fees? I thought that would have to be something congress does.
Right. All the courts can do is use the high fees as evidence of monopoly.
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