Federal Reserve Chairman Ben Bernanke has proposed a 12-cent per transaction cap on debit interchange fees, down from an average of 44 cents, for all but the smallest banks and credit unions.
In December, the Federal Reserve proposed as part of an overhaul mandated by the Dodd-Frank law capping debt-transaction fees for large banks at 12 cents, down from an average of 44 cents.
To help the property sector, minimum down-payments have been reduced from 30-40% of a home's value to 20%, the transaction tax has been waived for properties held for at least two years, and more public housing is to be built.