WASHINGTON — Banks appeared to be gaining the upper hand in their battle against retailers to delay pending interchange fee caps, but the fight was far from over.

Sens. Jon Tester, D-Mont., and Bob Corker, R-Tenn., unveiled revised language on Tuesday that would shorten the proposed delay to one year but give the Federal Reserve Board more power to raise its proposed 12-cent cap.

Register or login for access to this item and much more

All Bank Investment Consultant content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access