Fiserv debit network sale likely to receive major scrutiny, says Raymond James

A potential sale of Fiserv's (FISV) STAR or Accel debit network to major banks -- including JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), and PNC Financial (PNC) -- could improve banks' debit economics and be highly accretive to Fiserv's earnings, though significant regulatory scrutiny makes the likelihood of a completed deal uncertain, Raymond James tells investors in a research note. Regulators would likely view this as a direct go around to the Durbin Amendment in order to charge merchants' higher fees, the firm adds. Raymond James maintains a Market Perform rating on Fiserv.