FBI Takes a Bullet in Banks' $50 Billion Fee War With Retailers

  Image Source: Google Images

Image Source: Google Images

Perhaps the FBI should have stuck to catching bank robbers, rather than weighing in on bank cards.
Last month, the nation’s premier law enforcement agency issued a seemingly innocuous fraud alert telling shoppers to use a PIN with new credit cards embedded with computer chips. Though the goal was to promote security, the bureau instead found itself ensnared in a decade-long dispute between banks and retailers, in which about $50 billion in annual fees are at stake.

Read the full article