House Dems Seek Antitrust Probe Of Debit Card Fees

Law360, New York (October 13, 2011, 3:39 PM EDT) -- Democrats in the U.S. House of Representatives called Thursday for an investigation into new debit card fees charged by Bank of America Corp. and others, alleging they may have conspired to implement the charges industrywide in violation of antitrust laws.

Rep. Peter Welch, D-Vt., and four other congressmen said in a letter to U.S. Attorney General Eric Holder that communication between banks and banking associations in the wake of the so-called Durbin amendment, which capped the amount banks can charge retailers for swiping their debit cards,...
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