Personal Finance Advice and Commentary

Friday, December 13, 2013 5:19 pm
By Marcie Geffner ·

Consumers found more access to free checking after the Durbin Amendment, a study finds.

Friday, October 11, 2013 6:05 am
By Marcie Geffner ·

The Electronic Payments Coalition says consumers aren’t seeing savings on retail products since the Durbin Amendment.

Friday, August 30, 2013 6:05 am
By Marcie Geffner ·

Fitch Ratings estimates a lower swipe-fee cap could cost U.S. banks nearly $7 billion.

Friday, August 02, 2013 3:51 pm
By Claes Bell ·

A ruling on the fees banks charge to process debit cards could have financial consequences.

Tuesday, May 08, 2012 5:07 pm
By Marcie Geffner ·

A Federal Reserve study says large banks’ debit card swipe fees declined in the fourth quarter of 2011.

Wednesday, December 21, 2011 10:00 am
By Marcie Geffner ·

“Where’s my debit discount?” That question is the premise behind a new website,, sponsored by the Electronic Payments Coalition, or EPC. The EPC is a group of about 60 banks, banking industry associations, credit unions and payment card networks that handle electronic payments between merchants and consumers. The website claims that retailers promised to

Thursday, December 01, 2011 9:30 am
By Marcie Geffner ·

Consumers who thought the battle over so-called swipe fees on debit card transactions was over might be surprised at the latest development: The retailers are suing the federal government, claiming the Federal Reserve didn’t properly apply the law when it adopted a cap on these fees. According to a recent press statement, the National Retail

Friday, July 01, 2011 12:40 pm
By Marcie Geffner ·

The Federal Reserve Board this week issued its final rule establishing an interchange rate of 24 cents for debit card transactions and implementing related requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The final rule came out with the usual flurry of doom-and-gloom press statements on both sides of the debate, plus

Thursday, June 23, 2011 12:30 pm
By Marcie Geffner ·

Retailers won another battle against the banks earlier this month as the U.S. Senate rejected an amendment that would have delayed the implementation of the “swipe fee” rule, which will cut the fees retailers pay banks when consumers use debit cards to make purchases. The amendment went down to defeat on a 54-45 vote, in