Your debit card could be declined at stores, even if you have plenty of money in your account.
JPMorgan Chase is considering a plan that would limit debit card purchases at either 50 dollars or 100 dollars.
The proposal is being considered because the fee businesses are charged to swipe debit cards is getting too high.
Banks charge retailers 44 cents everytime a customer pays with a debit card. Those pennies equal about 16 billion dollars a year for banks.
Those fees could be lowered to 12 cents under Wall Street's reform package.
Banks say they need the higher fee. It helps maintain their business and offset losses from bad transactions.
So far, JPMorgan is the only bank to consider this plan.
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