States Fight Credit Card Fee Hikes
While most lawmakers have been in support of regulations likecredit card reform that protect consumers,some states have become unlikely allies to banks when it comes to the idea of raising credit card fees.
Treasurers from at least eight stateswant to sendletters to lawmakers over concerns that proposed limits on the fees that card issuers charge businesses for processing purchases could endanger state programs that use prepaid cards pay out benefits like unemployment insurance. The senate passed an amendment to financial regulation recently asking for the limit to help avoid fees from being passed to consumers. (Washington Post)
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