RANT: The big retailers got a windfall

http://www.doughroller.net/banking/5-ways-to-avoid-bank-of-americas-5-debit-card-fee/

5 Ways to Avoid Bank of America’s $5 Debit Card Fee
by DR
in BANKING

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In some ways I don’t blame BofA for the move. When Senator Durbin introduced the “Durbin Amendment” into the Dodd-Frank financial reform bill that effectively capped fees large banks could charge retailers that accept their debit cards, everybody in the free world knew exactly what would happen. The big retailers got a windfall, and consumers got the shaft through higher fees. The only irony here is that Senator Durbin is a democrat purportedly looking after the little guy. You can probably guess what I think of the Durbin Amendment.

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Regulatory capture … “the big retailers got a windfall” … and is there any wonder why the politicians get campaign contributions?

Call it what it is corruption!

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