Major Banks Exploring Private Networks to Sidestep Debit Fee Caps

America's largest financial institutions are investigating how to bypass legal ceilings on debit card interchange fees by acquiring their own networks. JPMorgan, Wells Fargo and other big banks are evaluating purchases from payment solutions companies like Fiserv to potentially exceed the current $0.21 + 0.05% limit. This strategy, proven by Capital One's acquisition of Discover Financial Services in 2025, could allow banks to operate outside existing regulations if they build their own networks. However, these moves may increase daily payment costs for consumers. How will markets react to this development? The shift signals a new phase in U.S. banking's digital transformation.