Proposed Rule Would Cap Debit Interchange

WASHINGTON — In a first-ever webcast meeting of the Federal Reserve Board Thursday, its members voted unanimously in favor of a proposed rule that would limit debit-card interchange fees.

WASHINGTON — In a first-ever webcast meeting of the Federal Reserve Board Thursday, its members voted unanimously in favor of a proposed rule that would limit debit-card interchange fees.

Directed by Congress in the financial reform legislation that passed this year to ensure that debit-card interchange fees are "reasonable and proportional" to the costs incurred by issuers, the Board suggested two alternatives, one of which would allow issuers a "safe harbor" interchange fee o

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