Debit Card Reform Makes Its Debut: But will Savings from a Cap on Transaction Fees Reach Customers--Or will They Still Pay‪?‬

When Wenatchee Valley residents swipe their debit cards to pay for goods, they soon might be paying the price in more ways than one. On July 21, a little-known piece of legislation called the Durbin Amendment goes into effect, and will cut the "interchange fee"--the fee that banks charge retailers on debit card transactions--by as much as 75 percent.