Fed to meet next week on debit card rule

WASHINGTON, June 21 Tue Jun 21, 2011 2:57pm EDT

WASHINGTON, June 21 (Reuters) - The Federal Reserve board will meet on June 29 to consider a final rule to limit the amount banks can charge merchants when a debt card is used, the Fed said on Tuesday.

The rule is required by the Dodd-Frank financial oversight law and has been closely watched by banks and retailers of all sizes.

(Reporting by Dave Clarke)

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