Chase Moves to Limit Debit Rewards

hand with credit card - Chase rewards
hand with credit card - Chase rewards

Back in December, we told you how the Federal Reserve paved the way for sweeping changes -- and likely reductions -- to the fees merchants pay banks for the privilege of accepting your debit card when you make a purchase. Exactly how much money banks stand to lose from this is an open question, especially because the Fed won't issue its final ruling until July, but that hasn't stopped one bank from dialing back its debit rewards program.