Congress Nears Deal On Swipe Fees, Consumer Agency

Law360, New York (June 21, 2010, 7:09 PM EDT) -- Measures to impose new oversight on banks' debit card transaction fees and place a proposed Consumer Financial Protection Bureau in the Federal Reserve will be included in a final compromise version of financial regulatory reform legislation, congressional negotiators announced Monday.

U.S. House of Representatives Financial Services Committee chairman Barney Frank, D-Mass., said House lawmakers were prepared to accept a modified version of the controversial swipe fee amendment that was passed in the Senate's version of H.R. 4173, the Wall Street Reform and Consumer Protection Act, as...
To view the full article, register now.