US Fed set to revise debit card fee caps pitting banks against retailers

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US Fed set to revise debit card fee caps pitting banks against retailers
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WASHINGTON, Oct 25 - The U.S. Federal Reserve is expected on Wednesday to propose an official review of the fees banks can charge retailers for debit card transactions, setting up a battle between the two industries that could result in a court challenge.

Analysts said they expect the Fed will initially solicit public feedback on a range of topics, such as how technological developments or shifting fraud patterns have affected costs. The Wall Street Journal reported last week that the Fed will lower the caps, sending shares in credit card companies Visa V.N and Mastercard MA.N lower.

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