Starting June 14, 2026, new regulations from the Consumer Financial Protection Bureau (CFPB) have reduced interchange fees on debit and credit card transactions. The rule, finalized in March 2026, caps swipe fees at 0.04% per transaction for debit cards, down from the previous average of 1.5%. For credit cards, the cap is set at 0.08%.
The CFPB estimates this will save consumers approximately $15 billion annually in lower prices and reduced surcharges. Major retailers like Walmart and Target have already announced plans to pass savings to customers through discounts.
Banks and card networks, including Visa and Mastercard, opposed the rule, arguing it could reduce rewards programs. However, the CFPB stated that the benefits to consumers outweigh potential impacts on rewards.
The regulation applies to all transactions processed after June 14, 2026. Consumers are advised to check with their banks for any changes to card terms.
