The U.S. Senate rejected a plan backed by large banks for a six-month delay in a Federal Reserve rule to cap the debit-card swipe fees set by Visa Inc. and MasterCard Inc., Bloomberg reported.

Senators led by Richard Durbin of Illinois, who pushed to include the fee caps in the Dodd-Frank Wall Street Reform and Consumer Protection Act, turned back the proposed delay in a 54-45 vote that left the amendment six votes short of the 60 needed for approval.

The caps proposed by the Fed in December and scheduled to take effect July 21 would cut revenues by about $12 billion a year at lenders including Citigroup Inc., Wells Fargo & Co. and JPMorgan Chase & Co. The banks pushed to roll back or delay the Fed rule, battling efforts by Wal-Mart Stores Inc. and Target Corp., who would pay less under the caps.