When consumers swipe a card either debit or credit to make a transaction with a merchant the merchant pays an interchange fee to the card-issuing bank. Generally the interchange fee for a debit card is 1% of the purchase amount while for a credit card it is 1.6% of the purchase amount. In 2009 the average interchange fee was 44 cents. In December 2010 the Federal Reserve proposed capping that interchange fee to 12 cents per transaction. Who are the three primary stakeholders in this proposal and what do you predict their positions will be relative to this proposal?