Industry groups support cap on debit card fees

Restaurant and retail groups expressed support for a Senate amendment to financial service reform legislation that would limit the fees financial companies can charge on debit transactions.

The amendment, which was introduced by Sen. Richard Durbin, D-Ill., would authorize the Federal Reserve to determine "reasonable and proportional" interchange or "swipe" fees on debit cards imposed on restaurants and other businesses.

The amendment, which was approved by a

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