Download
HTML Embed
HTML EMBED
Click to Copy

Latest Episodes

Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace

The nest is full

Oct 11, 2019
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
This Is Uncomfortable

Retailers score as judge rules debit card fees are too high

Mitchell Hartman Aug 1, 2013
Share Now on:
HTML EMBED:
COPY

Your local mom-and-pop convenience store and your local mega-big box discount store just scored a victory in federal court. A judge has ruled the fees banks have been charging retailers for each and every debit-card transaction are too high. Banks are crying foul and promise to appeal.

Under the Dodd-Frank financial reform, these debit card fees have been capped by the Federal Reserve. Still, the court says the Fed has been letting banks collect too much.

Nice news for retailers, says analyst Karen Shaw Petrou.

“In any transaction, it’s a critical part of the sometimes very small profit margin that the retailer has. So they want the cards to essentially be cash — something that costs them nothing to accept.”

If the ruling is upheld, fees would fall—by pennies per transaction. And retailers would probably pocket that, says analyst Bert Ely.

“It’s highly unlikely that customers of retailers would see lower prices.”

Some retailers shun plastic altogether to spare themselves the fees — but not Hathaway’s Coffee Shop in Cincinnatti. Bill Harvey, the general manager, says any way you want to pay is fine with him. 

“You know, money is money, plastic is plastic.”

If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air.  But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.

Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.

When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.

Check Your Balance ™️
Check Your Balance ™️
Personal finance from Marketplace. Where the economy, your personal life and money meet.

Thank you to all the donors who made our fall drive a success!

It’s Investors like you that keep Marketplace going strong!