DOJ Debit Fee Probe: No Anti-Trust by Big Banks? Posted by AVCU on 4:49 PM

As reports covered the media this week on the Peter Welch requested Department of Justice probe of possible collusion by big banks with their now defunct plans to assess new debit card fees in light interchange controls, NerdWallet and others opine that accusing banks of possible anti-trust is misguided. Rather, their desire to assess new fees was a natural marketplace reaction to government mandated limits on debit interchange, as brought about by the Welch advocated limits on debit interchange created by the Durbin amendment of the Dodd-Frank Act.

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