Debit Card Fees

June 8, 2011 by staff 

Debit Card FeesDebit Card Fees, U.S. Representative Barney Frank, co-author of 2010 legislation is unparalleled, said Wednesday he supports delaying a part of the reforms that the tariffs applied on the cover debit card transactions.

“This was not in the House bill, and I do not think it was part of financial reform,” said Frank, a Democrat, told Reuters. “It was a separate issue.”

In a matter of concern ready to big banks like Citigroup, JPMorgan Chase and Bank of America, Democratic Senator Jon Tester has offered a bill that would delay the payment cap debit card. A vote there is expected later on Wednesday in the Senate. “If the Senate approves amendment Tester, I think the House will accept it,” said Frank.

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