“But the [Consumer Federation of America] also raised concerns about the potential impact of the Fed’s proposals on consumers. Some banks are trying to offset their expected lost revenues by adding new fees to checking accounts, and bankers have warned that the poorest consumers may no longer be able to afford traditional bank accounts as a result.”
More Updates
Every Major National Bank and Credit Union Trade Association Joins to Urge Fundamental Revision of Federal Reserve’s Debit Card Rule
Electronic Payments Coalition
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Press Releases / Statements
Banking Industry Unites on ‘Swipe’ Fees, Presses Fed for Changes
Bloomberg
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General
Banks’ free checking account now costs $100
Sarasota Herald-Tribune
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General