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Keyword: wellsfargofees

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  • Debit card fees a rising issue as banks implement new charges for cashless exchanges

    09/21/2011 2:30:47 PM PDT · by lowbridge · 18 replies
    NY Daily News ^ | September 21, 2011 | Jean Chatzky
    But perhaps the biggest wallet-buster I've been noticing lately is bank fees. From Wells Fargo to SunTrust, banks are imposing new or increased charges in the face of new regulations that take effect Oct. 1. The new legislation, called the Durbin Amendment, roughly cut the amount banks can charge retailers who swipe your debit card - known as an interchange fee - in half. That's great for retailers, who were paying an average of 44 cents per transaction, but bad for banks. In some ways, at least, it's bad for customers, too. Here's a look at what you can expect...