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If approved, 'swipe fees' on debit card transaction would fall by over 25% under the plan.

And George Santos pleads not guilty.

Mike Johnson has won the House speaker’s gavel with an unusual calling card: Up until a few days ago, K Street was largely unaware of the man.

The U.S. Federal Reserve is set to propose slashing the amount of fees banks can charge merchants for processing debit card transactions by nearly a third, setting up a pitched battle between the two...

The U.S. Federal Reserve is expected on Wednesday to propose an official review of the fees banks can charge retailers for debit card transactions, setting up a battle between the two industries that could result in a court challenge. The scheduled Fed board meeting will mark the first time in over a decade that the central bank has proposed revising the fees, which generated around $24.31 billion for lenders in 2019, the most recent Fed data shows. The Fed has not said how it plans to change the fees, which have long been criticized by retailers as disproportionately high, and a spokesman f...