Big US banks explore Fiserv network deal, WSJ reports

July 6 (Reuters) - U.S. ‌banks, including ​JPMorgan ​and Bank of America, have in recent months held early talks about a deal ‌to buy a network owned by the payments ⁠firm Fiserv that could allow them to bypass federal debit-card ‌fee caps, the Wall ‌Street Journal reported on Monday, citing sources.

• The cap banks are reported to be looking to sidestep ​traces back to the 2010 Durbin Amendment, which limits the fees large banks can collect from ⁠merchants on debit-card transactions when routed through an outside network. However, ​banks would be exempt from that cap if they also own the network, the WSJ ​report said.

• Other banks that ‌have held preliminary and tentative discussions include Wells Fargo and PNC Financial Services ⁠Group, the report added.

• The report sent Fiserv's shares up 4.3% in after-hours trading.

• Several of the companies that ⁠looked at the Fiserv network have already decided it would ​be unlikely for them to move forward, as they expressed concern that such a deal could prompt backlash from lawmakers, ‌regulators and merchants, the report added.

• JPMorgan declined to comment, while Fiserv, BofA, Wells ‌Fargo and PNC Financial did not immediately respond ⁠to Reuters' requests for ‌comment outside regular ​business hours.

(Reporting by Natalia Bueno Rebolledo in Mexico City; Editing by Maju Samuel and Rashmi ‌Aich)

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