[MarkL]

This is all because Obama just changed the laws. The banks used to collect a merchant fee from the vendors where you used your debit card, just the way credit card companies do. It’s a processing fee, and somebody’s got to pay it.

Obama said that they cannot raise the fee to the merchant or collect enough to pay for the service anymore. So guess what? They’ve got to get paid for this service somewhere, and who else are they going to get it from?

While Obama certainly supports it, it was Dick Durbin's amendment to the Dodd/Frank "screw-over-the-bank-customer-bill."

Mark

[livius]

Good old Turban Durbin.