- GOP hopes taking shutdown off the table with budget deal will pay dividends
- Chinese Death Star: The moon cited as the perfect launch pad for ballistic missiles
- Help wanted: Homeland Security plagued by vacancies at the top
- We are not amused: Queen’s protection officers warned to keep ‘sticky fingers’ off the royal cashews
- Unleash the crossbows: Gov. Scott Walker creates new hunting season
- Bubonic plague kills 20 in Madagascar
- G-20 diplomats fell for hacker attack promising nude photos of former French first lady Carla Bruni
- Minnesota guardsman charged with stealing private soldier data for fake IDs
- Florida appeals court rules universities can’t regulate guns
- Vladimir Putin defends Russian conservative values
Richard Morris Hunt
Latest Richard Morris Hunt Items
The lawmaker who led the charge against hefty new bank debit-card fees is turning his attention to checking accounts.
On Monday, SunTrust Banks became the latest financial institution to stop charging for debit cards, making the move after the new fees proved wildly unpopular with customers.
Starting Saturday, "swipe fees" that banks charge merchants when customers make debit-card purchases will be capped.
It's not so easy to find a free checking account these days. The number of banks offering basic, no-strings-attached free checking accounts has plummeted in the past two years.
The Senate sided with retailers over bankers Wednesday, voting to let the Federal Reserve move forward with a plan to cap the “swipe fees” the financial institutions charge merchants to accept their customers' debit cards -- but it is still unclear what impact the decision will have on consumers.
Consumers are finding themselves squeezed in a heavyweight bout between the nation's big banks and big retailers over the "swipe fees" imposed when shoppers use their debit card at the register. And both sides warn the little guy will suffer if the other side wins.