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Wired Reports The U.S. financial sector, a powerful force in Washington, may be gearing up to jump into a Capitol Hill fight over the future of the internet and stop an effort it says could add billions in costs just to maintain current offerings.
For the financial services sector, which is expected to spend $117 billion on information technology this year, tiered pricing could add billions more in expenses to maintain online banking services and other web offerings, according to a memo circulating among financial services lobbyists. Those costs could hit the bottom line or be passed on to customers.