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Senate Takes Up Debit Card Swipe Fees

LINDA WERTHEIMER, host:

NPR's business news starts with a Senate showdown, today, over swipe fees.

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WERTHEIMER: Those are the fees that stores pay banks every time a customer uses a debit card to buy something.

The federal government is trying to lower them, but banks have been lobbying furiously against that effort, since they stand to lose billions. The Senate bill up for a vote today introduced by Jon Tester of Montana is a compromise. It would delay new rules limiting swipe fees, and possibly force regulators to rewrite them. Transcript provided by NPR, Copyright NPR.