As part of the sweeping financial reform legislation occurring in the Senate, a new vote would require banks to charge a lower fee for debit card transactions, according to NPR. This comes as blow to bank lobbyists, who have been fiercely fighting the bill.

"By requiring debit card fees to be reasonable...small businesses and their customers will be able to keep more of their own money," Representative Richard Durbin said in a statement, MarketWatch reports. The measure would also disallow businesses from offering a minimum amount on debit card transactions.

This legislation would have a serious impact on consumers who regularly use plastic to pay for purchases. With more appealing debit card rates, many shoppers may choose to keep their credit cards in their wallets. This would be beneficial to consumers, as it is much less risky to take money directly from a bank account than to make purchases with credit.

Credit cards come with many drawbacks, including hidden fees, climbing interest rates and the potential to rack up large amounts of debt. Less credit card purchases would diminish these risks.