Banks are Black Friday's Biggest Losers

NEW YORK (TheStreet) - This is a bittersweet Black Friday for the banking industry.

While retailers flex their competitive muscle and customers race for bargains, it will be the last Black Friday that banks are able to make a killing on interchange fees. Next year, major debit-card issuers will be watching millions of dollars in lost revenue slide by, into the pockets of merchants.

Banks can thank Sen. Richard Durbin (D., Ill.) for making this big American shopping holiday rather dreary.

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