Payments News

Hundreds of Bankers to Congress: Repeal Durbin

Mar 17, 2017
In a joint letter to House leadership today, ABA, along with nearly 850 banks and state associations, urged Congress to include a repeal of the Durbin Amendment in financial reform legislation this year. A repeal would eliminate government-imposed price controls on debit card interchange. The groups pointed out that the Durbin Amendment — an eleventh hour insertion into the Dodd-Frank legislation — has failed to deliver on its promise of lower costs for consumers at the cash register.

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