MI retailers call for cap on debit fees

LANSING, Mich. (AP) - Some Michigan restaurant owners and retailers are calling on Congress not to revoke a cap on debit card fees that's set to take effect this year.

They say the current fees are unfairly driving up business owners' costs. They made a Monday announcement on the issue.

New regulations limiting the fees a bank can charge retailers for debit card transactions are supposed to take effect this summer. But some banks have been fighting the cap in court and want Congress to revoke it.

Along with Visa and MasterCard, banks say the fee takes into account the cost of setting up and maintaining a secure and sophisticated debit payment system.

Merchants say the fee charged for debit card transactions is much higher than the banks' actual cost.