Leaving its interchange-fee restrictions intact – at least for now – the Federal Reserve is proposing to expand on its existing requirement that all debit-card transactions must be enabled for processing on at least two unaffiliated payment-card networks for card-not-present (e.g., online) transactions. The NPR does not address the still more contentious question of the ceilings on debit-card interchange fees, but it does indicate that the FRB may turn to these.

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