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...
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