Debit Interchange Fees Capped at 21 Cents-Plus

The Federal Reserve said the final rule for implementing debit-card interchange fees would cap those fees at 21 cents per transaction plus 0.05% of the transaction amount — nearly double the rate that the Fed had previously proposed.

WASHINGTON — The Federal Reserve on Wednesday said the final rule for implementing debit-card interchange fees would cap those fees at 21 cents per transaction plus 0.05% of the transaction amount — nearly double the rate that the Fed had previously proposed.

"The Federal Reserve very clearly did not follow through on the intent of the law," said Mallory Duncan, chairman of the Merchants Payments Coalition, which includes Food Marketing Institute, the National Grocers Associati

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