Banks lose battle to delay cap on invisible fee
Business Law
Merchants trumped bankers in a battle for billions Wednesday as the Senate voted to let the Federal Reserve slash fees that stores pay financial institutions when customers pay with debit cards.
Whether consumers will see any of that money remains to be seen.
The Fed will now issue its final rules on debit fees, called interchange fees, on July 21. It has recommended cutting the average 44 cents that banks and credit unions charge for each debit card transaction to no more than 12 cents, although the final plan could change slightly.
The fee is now typically 1 to 2 percent of each purchase. It produces $16 billion in annual revenue for banks, credit unions and the credit card companies that operate the huge payment networks, the Fed estimates.
Merchants say lower fees should let them lower prices. Banks warn that they'll have to recoup the lost revenue through other charges that likely will come directly from consumers' pockets, such as higher checking account fees.
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Is Now the Time to Really Call a Special Education Lawyer?
IDEA, FAPE, CHILD FIND and IEPs: The Individuals with Disabilities Education Act (IDEA) guarantees all children with disabilities to a free appropriate public education (FAPE). FAPE starts with a school’s responsibility to identify that a child has a disability (Child Find) and create an Individualized Education Program (IEP) to suit the needs of the child.
Forte Law Group is one of only a very few law firms within the state of Connecticut that is dedicated to exclusively representing families and children with special needs.
Parents need to be persistent, dedicated and above all else aware of the many services and accommodations that their child is entitled to under the law. As early as this point within your child’s special education, many parents will often find themselves in the situation asking, “is now the time to really call a special education lawyer?” Here are a few things to consider when asking yourself that question.