Trying to protect profits threatened by debit card fee caps, JPMorgan Chase (JPM) says it will...

|About: JPMorgan Chase & Co. (JPM)|By:, SA News Editor

Trying to protect profits threatened by debit card fee caps, JPMorgan Chase (JPM) says it will end debit-card rewards for nearly all its customers. A Fed proposal caps interchange fees at $0.12/transaction (compared with today's formula that averages $0.44) and would cost JPM about $1.3B in annual revenue. (previously)