Senate set to vote on debit-card swipe fees (Washington Post)

After months of intensive lobbying by banks, the Senate is slated to vote
Wednesday on a controversial bill that would delay changes to debit-card swipe
fees that would cost the industry billions of dollars.

Sen. Jon Tester (D-Mont.) unveiled revised legislation Tuesday that requires
four banking regulators to study the issue for six months. The Federal Reserve
would then have an additional six months to rewrite the rules governing swipe
fees. Tester?s original bill called for a two-year delay and would have
required Congress to vote again to approve additional action.

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