Partner Lawrence Remmel, Chair of Pryor Cashman’s Banking and Finance Group, was interviewed by The Street for its November 29, 2011 article, “Debit Fee Investigation a Dud: Lawyers.” The article discusses the U.S. Department of Justice’s review of claims that banks colluded to impose debit card fees for retail customers.

According to the article, the Department appears to be merely responding to a letter from Congressman Peter Welch that requested them to investigate whether banks colluded to raise fees and will only result in a few lawmakers showing any public concern. Remmel told the publication, the review is likely just a formality. "I think the actions by Congressman Welch were entirely appropriate and as a matter of giving due respect to other government agencies the Department of Justice should respond to it. They are taking it seriously and examining the facts," he said.

To read the entire article, please click here.