Recent bills were aimed at postponing swipe fee regulations.   Weeks of lobbying from the credit card industry has resulted in lawmakers from both parties to delay a controversial law that would reduce swipe fees.  The proposed legislation would mandate a government study of interchange fees and require the Federal Reserve to amend legislations that will reduce these fees by as much as seventy percent.  The new rules were supposed to be enacted by July 21.  The Senate measure would delay the implementation of the law for as much as two years.  The version in the House called for a one-year delay. 

With tax day a mere one month away, people are starting to get nervous with thoughts of submitting their returns.  It is also the same time credit card companies promote the use of credit cards as a convenient way to pay their tax bills.  Though it may be handy, doing so is certainly not without its costs.  The IRS is also promoting the advantages of paying for taxes using a credit card.  Their website promotes credit cards as a convenient, safe and secure way to pay for their taxes.  The IRS also reminded individuals that doing so is a good way to earn miles, points, and cash back from their credit card rewards program.  Credit card payments to the IRS go through a third part provider that charges a processing fee as high as four percent.   

In response to growing federal regulations in the credit card industry, Chase is contemplating the idea of setting a limit on their debit card purchases.  A maximum of fifty to a hundred dollar limit is under consideration.  Limitations on charge fees for debit cards have promoted the capping of purchases.  In accordance to information provided by the Federal Reserve, debit card transactions accounts for approximately thirty-five percent of all noncash transactions.