Diana Ransom

Diana Ransom

Latest from Diana Ransom

What New Debit-Card Fees Could Mean for Swipe Reform and Small Businesses

When Bank of America yesterday announced that it would levy a $5 monthly charge on consumers who use their debit cards to make purchases, small-business owners and merchant groups collectively shuddered. The battle they won last year through the passage of the Dodd-Frank financial-overhaul law -- which, among other things, called for the Federal Reserve to rein in debit-card interchange fees, the swipe fees merchant pay banks for debit card purchases -- may be lost after all.