Originally Posted by
alexmt
They = certain members of Congress like Dick who don't understand banks aren't 501(c)3 corporations.
Further decreasing debit interchange and you WILL see debit cards get killed by banks, or at least the perks. How long can things like my Schwab ATM fee reimbursement last?
Do you really think Dick doesn't want to kill credit cards also and hurt customers to benefit Walmart, Target, Kroger, etc?
Last I checked Walmart and Target aren't 501(c)(3) corporations either.
Since most people are customers of both banks and retailers, saying that hurting banks = hurting customers is rather ridiculous.
Neither debit nor credit cards are at any risk of getting "killed" by banks. In fact, banks very creatively started pushing a new product, "prepaid" cards, to get around the new regulations.