STI made over $500 million last year in debit card swipe fees. How will they make that up now that congress has limited the amount they can charge to a maximum of 12 cents per swipe?STI probably wont be hurt as much as the smaller banks that relied on those fees for a good portion of their non-interest income.Liberal Senator Durbin thinks that if companies dont have to pay those fees, they will pass the savings on to the consumer. LMAOBanks will have to raise checking account fees and those who will be paying those higher fees are the middle class.
Tell Sen. Durbin to dream on......BS
Another way of screwing clients more.