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‘Swipe fee’ rule’s small issuer exemption is working, Fed says
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Banking
Tuesday, May 28, 2013
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Federal Reserve debit card interchange fee caps enacted under the Dodd-Frank Act have not harmed smaller issuers as some industry participants feared, the agency said in a May 23 report. According to Fed numbers, small institutions that are exempt from the new rules received roughly the same fee revenue per transaction in 2012 as they did before the rules went into effect in October 2011.
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