By: Lynn Oldshue, Editor
New interchange fee regulations go into effect this Saturday, October 1, but many consumers are already experiencing some painful consequences.
New rules that will cut the cost of the interchange fee for merchants have already helped trigger more fees for debit card use, some monthly charges on checking accounts, eliminated most debit card reward programs, and may end the convenience of using a debit card for small purchases.
Consumers may give little thought to the...
New interchange fee regulations go into effect this Saturday, October 1, but many consumers are already experiencing some painful consequences.
New rules that will cut the cost of the interchange fee for merchants have already helped trigger more fees for debit card use, some monthly charges on checking accounts, eliminated most debit card reward programs, and may end the convenience of using a debit card for small purchases.
Consumers may give little thought to the...