Every time you use your debit card, the merchant has to pay a fee to the company that issued your card, usually about 1 percent of the purchase price. On October 1, that price will be capped by law to 21 cents. John Berlau, Director of CEI’s Center for Investors and Entrepreneurs, explains the unintended consequences that will hurt consumers, merchants, and banks alike. John has written on interchange fees for The Wall Street Journal, Investor’s Business Daily, The American Spectator, and other outlets.
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[...] this morning’s CEI Podcast, my colleague John Berlau predicted that the new price cap on debit card swipe fees would lead to [...]
[...] Young on September 29, 2011 · 0 commentsin Economy, Politics as Usual, Regulation Tweet In this morning’s CEI Podcast, my colleague John Berlau predicted that the new price cap on debit card swipe fees would lead to [...]