S. 4570 requires the Board of Governors of the Federal Reserve System to examine the effects of a proposed rule concerning debit card interchange fees and routing. Specifically, the bill mandates a study on how the rule, known as the Reg II proposed rule, might impact...
Simple Explanation
S. 4570 wants the Federal Reserve to check how a rule about fees when people use debit cards could affect people and stores, especially if it's fair for everyone and helps stop fraud, and they must tell Congress what they find before making the rule final.