The Federal Reserve’s debit interchange fee cap, which went into effect on Oct. 1, may
cost the banking industry $8 billion annually. The top 10 U.S. banks say they intend to recoup about 50 percent of that lost revenue by driving customers to new products, growing their customer bases and removing reward programs. They may also add new fees, though most of the large banks have discarded plans to charge for debit card usage.