DOJ Eyes Antitrust Implications Of Debit Card Fees

Law360, New York (November 22, 2011, 5:03 PM EST) -- The U.S. Department of Justice is looking into whether recent plans by Bank of America Corp. and other banks to implement monthly debit card fees ran afoul of antitrust laws, according to a letter released Tuesday.

The DOJ’s move follows a request by Rep. Peter Welch, D-Vt., and four other Democratic congressmen who petitioned the department in October to investigate the proposed new debit card fees charged by Bank of America and others, alleging the banks may have conspired to implement the charges industrywide in violation...
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