RILA Letter on Federal Reserve Debit Reduction Proposal
Fed must do more to rein in excessive fees
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RILA filed comments with the Federal Reserve explaining our support for the Board’s proposal to reduce the base debit interchange from $0.21 to $0.144. RILA’s comments also urge the Board to consider adopting a tiered approach that creates at least two rates: one for the largest banks with the lowest processing costs, and one for all other smaller banks.
Read RILA’s full comments to the Federal Reserve.
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