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876 Major Banks In Talks To Exploit Debit Card Loophole

Slashdot
BeauHD @ Slashdot · 07/07/2026 14:00 EDT

Major Banks In Talks To Exploit Debit Card Loophole

JPMorgan, Bank of America, Wells Fargo, PNC, and other major banks have reportedly explored acquiring Fiserv's debit-card networks, STAR and Accel, in a move that could help them bypass federal caps on debit-card transaction fees. A law limits the fees big banks can charge merchants, but only if the transactions are routed through an outside network. There are no caps on these interchange fees over a bank-owned network, however. The Wall Street Journal reports: When Capital One Financial bought Discover Fin

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