In Fight Over Debit Card Fees, a Loss for the Banks

"For months, the nation's biggest banks and retailers have been fighting fiercely over the Federal Reserve's proposal to cap debit card fees--specifically, the fees that retailers have to pay to banks each time a transaction is made using a debit card. (Here's our guide on the issue.) Today's vote--a win for the merchants--defeated a major effort by the banks to delay the cap, which is now scheduled to take effect mid-July"