Minden Press-Herald

Sep 19th

Banking Exec. Gives Warning

Dear Editor:

Most Louisiana citizens are unaware of a new federal law that will result in harm to local Louisiana community bank customers and be a windfall for big box merchants. Last year, Congress inserted into totally unrelated legislation an amendment that requires the Federal Reserve Board to fix the price of a service provided in the market. That’s right, the federal government is to fix prices. When consumers swipe their debit cards there is a small fee charged. Consumers don’t see this as it is typically built into the price of the item purchased.

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