Debt Relief Center.org
The Debt Relief Center asks a few simple question so that we may understand your current situation

No suitable video player available.
Your Free Debt Savings Estimate
  • It's fast and convenient
  • It's your right to get relief
  • Your savings may surprise you
  • It's free, no commitment
See Savings
Your Free Debt Relief Savings Estimate only
takes a few minutes and will not affect your credit.

Credit Lenders Still Fighting For Debt-inducing Fees

Share this on:

Lenders fight for increased debit card fees, despite recent legislation. Despite Congress' recent passage of restrictions on debit card interchange fees, many credit card companies are still fighting the new laws.

Under the Federal Reserve proposal, which was issued last month, debit card fees would be reduced to 12 cents, 70 percent lower than the average transaction fee from 2009.

This decision was praised by consumer groups and major retailers who saw the decision as a way to pass on savings to the many individuals who are struggling with debt, late mortgage payments and unemployment, The Washington Post reports. However, lenders and banks oppose the new laws.

"We oppose price fixing just in principle, and that's what this is," American Bankers Association executive vice president Floyd Stoner, told the news source. "Congress does address things and go back and look at things in a lot of arenas. We believe it can happen here."

Despite the regulations, consumers may not see any savings from the deal. Some experts believe the fees will simply be passed onto consumers in the form of other charges for major lenders.

Timely articles written by the Editors at DRC

New government regulations in place for consumers in need of debt relief for credit cards and other unsecured debts.


A fast and easy way to get your debt relief evaluation and savings estimate.

Debt Amount
Slide handle to set approximate debt amount.
Less debt
More debt