Debit card fees reduced?

 

Finally, the lawmakers are looking into one of the most devious practices of the banks, debit card fees.

In a previous post on ATM fees we showed you how the banks are basically charging you up to 25% for you to access your own money as a way to improve their profits at your expense.  Well it appears that we weren't the only ones listening.  

Although this is only the beginning of a long process, the Federal Reserve has been investigating a small sub-set of the egregious fees charged by banks, the inter-change fee, but we can only hope this is the beginning of a more in depth probe of all fees associated with debit card use.

“The system is a mess, and all consumers pay more at the store and more at the pump because merchants are forced to raise prices…” 

 

Read more on how the Fed is investigating the curbing of some debit-card fees here.

 

About Anthony Candella

Anthony is the founder and Directing Attorney of YourCreditAttorney.com and has been helping consumers just like you understand and improve your credit and financial situation since 2003.