▲ 235 ▼ What little things do you do each day that are your small ways of sticking it to the man? (sh.itjust.works) submitted 9 months ago by gigastasio@sh.itjust.works to c/asklemmy@lemmy.world 261 comments fedilink hide all child comments
[–] swampdownloader@lemmy.dbzer0.com 2 points 9 months ago (2 children) What is a regulated debit card? permalink fedilink source parent hideshow 4 child comments replies: [–] NateNate60@lemmy.world 3 points 9 months ago A card which is subject to central bank regulations regarding the interchange fees which they are allowed to charge. According to the Dodd-Frank Wall Street Reform & Consumer Protection Act 2011, the Federal Reserve has the power to limit debit card interchange fees for debit cards issued by large banks with over $10 billion in assets. A "regulated debit card" issued by a bank subject to the regulation is therefore tariffed at the maximum rate allowed by the regulation, which is 0.05% plus 22 cents. permalink fedilink source parent [–] Cricket@lemmy.zip 1 point 9 months ago Thanks, curious about this too. permalink fedilink source parent
[–] NateNate60@lemmy.world 3 points 9 months ago A card which is subject to central bank regulations regarding the interchange fees which they are allowed to charge. According to the Dodd-Frank Wall Street Reform & Consumer Protection Act 2011, the Federal Reserve has the power to limit debit card interchange fees for debit cards issued by large banks with over $10 billion in assets. A "regulated debit card" issued by a bank subject to the regulation is therefore tariffed at the maximum rate allowed by the regulation, which is 0.05% plus 22 cents. permalink fedilink source parent
[–] Cricket@lemmy.zip 1 point 9 months ago Thanks, curious about this too. permalink fedilink source parent