Posts tagged as:

interchange fees

Bank of America may be the first major bank to raise its fees on debit card usage, but it will not be the last. The consequences of the federal government’s crusade against “unfair” credit card interchange fees have only started to emerge. Thousands of card users are now being charged higher interest rates and now [...]

Financial services firm Wells Fargo has announced it will test a $3 monthly fee for debit card users in select states, the result of new “interchange” regulations for debit cards that go into effect October 1.