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War Over Your Wallet

As you likely know new regulations could go into effect as soon as April that would dramatically limit the fees banks can collect from merchants whenever customers swipe their debit cards.

Currently banks collect 1 percent to 2 percent of the transaction amount, which merchants say is unfair because the cost to process a large transaction is the same as a small transaction.

The new rules mandated last year under the financial overhaul known as the Dodd-Frank Act would cap fees at 12 cents per transaction.

In a live interview on CNBC’s Fast Money Ed Groshans of Height Analytics says estimates for losses could be as much as $14 billion.

How much of it is already priced into bank stocks? Check out the video and find out now!




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Trader disclosure: On March 29, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Finerman's Firm Is Short (IWM; Finerman's Firm Is Short (SPY); Finerman's Firm Is Short (IJR); Finerman's Firm Is Long S&P 500 Put; Finerman's Firm Is Long Russell 2000 Puts; Finerman's Firm And Finerman Own (AAPL); Finerman's Firm Owns (BAC) Leaps; Finerman Owns (BAC); Finerman's Firm And Finerman Own (BP); Finerman's Firm And Finerman Own (CVS); Finerman Owns (GOOG); Finerman's Firm Owns (JPM), (JPM) Leaps; Finerman Owns (JPM); Finerman's Firm And Finerman Own (MSFT); Finerman Owns (USO); Finerman's Firm Owns (WMT); Terranova is long ( C); Terranova is long (GS); Terranova is long (VRTS); Terranova is long (JPM); Terranova is long (UPL); Terranova is long (MS) ; Terranova is long (PBR); Terranova is long (BAX); Terranova is long (TEVA); Terranova is long (IBM) ; Terranova is long (XOM); Terranova is long (JNPR); Terranova is long (DIS); Terranova is long (CVI); Terranova is long (RSX); Terranova is long (CNQ; Terranova is long (AAPL) puts; Terranova owns (AKAM) calls; Najarian is Long (AAPL); Najarian is Long (BAC) calls; Najarian is Long (BTU) call spread; Najarian is Long ( C ); Najarian is Long (CVS) calls; Najarian is Long (GE); Najarian is Long (JPM) calls; Najarian is Long (MS); Najarian is Long (RIMM) call spread

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LPHI)
Virtus Investment Partners Owns More Than 1% Of (NCRI)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLF)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of (DOM)

For Brian Kelly
Accounts managed by Kanundrum Capital are Long (EBAY)
Accounts managed by Kanundrum Capital are Long (RDC)
Accounts managed by Kanundrum Capital are Long (ATW)
Accounts managed by Kanundrum Capital are Long (VLO)
Accounts managed by Kanundrum Capital are Long (TSO)
Accounts managed by Kanundrum Capital are Long (GLD)
Accounts managed by Kanundrum Capital are Long (SLV)
Accounts managed by Kanundrum Capital are Long gold
Accounts managed by Kanundrum Capital are Long silver
Accounts managed by Kanundrum Capital are Long oil
Accounts managed by Kanundrum Capital are Long U.S. dollar
Accounts managed by Kanundrum Capital are Short yen
Accounts managed by Kanundrum Capital are Short (XLF)
Accounts managed by Kanundrum Capital are Short (IXG)

For Barry Ritholtz
**No Disclosures

For Brian Sozzi
**Brian Sozzi does not have disclosures on HD, TGT, COST, CVS, or URBN

For Ed Groshans
**No Disclosures

For Scott Nations
**No Disclosures

For karen finerman SOT 11/2/10
**No Disclosures

For Michael Gambardella SOT 3/29/11
***MICHAEL GAMABARDELLA HAS DISCLOSED FOR: MOLYCORP, AK STEEL, ALCOA, FREEPORT-MCMORAN, U.S. STEEL
J.P. Morgan Acted As Lead Or Co-Manager In A Public Offering Of Securities For (MCP), (AKS), (AA) In Past 12 Months
(MCP), (AKS), (AA), (FCX), (X) Is Or In Past 12 Months Was An Investment Banking Client Of J.P. Morgan
J.P. Morgan Recieved Investment Banking Compensation From (MCP), (AKS), (AA), (FCX), (X) In Past 12 Months
J.P. Morgan Expects To Recieve/Seek Investment Banking Compensation From (MCP), (AKS), (AA), (FCX), (X) In Next 3 Months
An Affiliate Of JPMS Recieved Non-Investment Banking Compensation From (MCP), (AKS), (AA), (FCX), (X) In Past 12 Months
(AKS), (FCX), (X) Is Or In Past 12 Months Was A Client Of J.P. Morgan (Non-Investment Banking Securirites-Related Service, Non-Securities Related Services)
An Affiliate Of JPMS Recieved Non-Investment Banking Compensation From (AKS), (AA), (FCX), (X) In Past 12 Months
(AA) Was A Client Of J.P. Morgan In Past 12 Months (Non-Investment Banking Securities-Related Service)

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