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Congressional effort to cut debit card charges to retailers merely shifted them onto consumers

| New York Daily News

“Provisions [of Dodd-Frank] included a fix-it job engineered by Illinois Sen. Dick Durbin at the request of major retailers like Walmart, who had their own beef with banks over debit card fees. Durbin’s solution ordered a break for the merchants and wound up shifting the cost to the debit card-using public. Some consumer protection.”

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