the cap will hurt the smaller bank and credit union. correspondent james rosen shows us which side won. >> the amendment is not agreed to. >> with that, the senate dealt a blow to effort by financial institutions to stave off a loss of $10 billion a year starting july 21. that is when a new federal reserve rule will take effect on swipe fees. the money that merchants and retailers pay to banks and companies like visa, mastercard every time a customer ploppings down the plastic they found the swipe fee of 44 cents per transaction and posed that it be capped at 12 cents. >> visa and mastercard and issuing banks that tissue debit cards. they hate this interchange fee regulation like the devil hates holy water. >> today's failed amendment would have delayed the fed's action by a year. supports predicted banks and credit and debit card issuers would pass new costs on to consumers.