From: CardRatings.com
Fed Chairman Ben Bernanke has received more than 11,000 letters commenting on the Federal Reserve Board’s December 2010 proposal to limit interchange fees on debit cards to 12 cents, according to a March 30 report from American Banker.
“Detailed and extensive” comments
Bernanke said many of the letters were “quite detailed and extensive” and justified the Fed taking additional time to review the information and assess the full effects of the proposed limits on U.S. consumers and financial institutions.