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View Diary: House Democrats ask Justice Department to investigate banks over debit card fees (71 comments)

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  •  Yup (1+ / 0-)
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    On a macro/national level, and as someone that thought Dodd-Frank overall was good legislation, I suppose it's better to cut costs on the merchant side and push the banks to get that revenue directly from the cardholders.  

    On the personal side, though -- while my bank hasn't yet rolled out debit fees -- they did cancel what was a pretty good rewards/points program so that it's no longer as good a deal for me personally to use my debit card as it once was.

    Beyond a desire to view it all through a bank-punitive lens, I'm not sure I really have much of a dog in this fight... I have zero expectation of any savings being passed along to me -- this is strictly a matter of whether the banks collect the debit card convenience fees directly from me or indirectly via the merchants whose goods and services I purchase with my debit card.

    Full Disclosure: I am an unpaid shill for every paranoid delusion that lurks under your bed - but more than willing to cash any checks sent my way

    by zonk on Thu Oct 13, 2011 at 02:22:38 PM PDT

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