The Federal Reserve Board met to discuss final rules on debit card swipe fees, the amount banks charge retailers every time a consumer swipes a debit card at the register to make a purchase. The Federal Reserve announced a plan in December 2010 in which merchants would be charged no more than 12 cents per debit card transaction, a 73 percent reduction from the current 44 cents per-transaction average. The proposal was mandated by the 2010 financial regulations law.