The Bank Slate


Fed extends comment deadline for debit interchange proposal

The Federal Reserve has extended the deadline for commenting on its proposal to lower certain debit interchange fees.  

The Fed said in a press release that it moved the deadline from Feb. 12 to May 12 “to allow the public more time to analyze the proposal and prepare their comments.”

The Fed’s proposal would reduce the fixed fee component from 21 cents to 14.4 cents and the variable component from 0.05% of the transaction value to 0.04%.

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