Justice Department Reviewing Debit Card Fees

Tuesday, November 22, 2011 Justice Department Reviewing Debit Card Fees Big banks shouldn't rest easy, the debit fee debacle isn't over. The Justice Department is reviewing claims by a lawmaker that banking industry officials colluded on boosting debit card fees, which would've violated antitrust laws, according to Reuters. Congressman Peter Welsh (D-Vt.) asked the Justice Department to investigate the banks last month after banking officials' public statements indicated that the banks may have cooperated to raise fees to make up for revenue lost because of a cap on debit card swipe fees that took effect on October 1. Fed Announces New Bank Stress Tests While Companies Went On Hiring Spree Abroad, Layoffs At Home States Crafting Smaller U.S. Mortgage Abuse Settlement BLOG POSTS Janet Tavakoli: MF Global Revelations Keep Getting Worse How long does it take to find more than $600 million to $1.2 billion of customers' money? MF Global's books seem so messed up that one person couldn't have created this chaos alone. Lloyd Chapman: The Super Committee Punts, and the Odds Are Stacked Against Small Business What's it going to take for small businesses to finally have a voice in Washington? Bill McKibben: Making Some Noise to Protect the Future of the 99% Since climate change is the first truly global problem, those people have to figure out how to raise a common message, one that crosses the boundaries of language. The best method -- proven in countless social movements -- may be music.

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