The state bankers associations today wrote to Rep. Randy Neugebauer (R-Texas) to express their support for a bill he introduced earlier this month that would repeal Dodd-Frank’s Durbin Amendment and eliminate the government-imposed price caps on debit card interchange.
ABA and several other trade groups wrote to House leaders yesterday in support of H.R. 5496, introduced by Rep. Randy Neugebauer (R-Texas) to repeal the interchange fee price controls imposed by the Durbin amendment.
Rep. Randy Neugebauer (R-Texas) today introduced H.R. 5465, a bill that would repeal Dodd-Frank’s Durbin Amendment, which institutes a cap on debit interchange fees charged by institutions with $10 billion or more in assets.
With a retail industry lobbying group visiting Capitol Hill offices this week, ABA sent a memo today to members of Congress rebutting retailers’ claims about data security.
The Durbin Amendment’s cap on debit card interchange fees is distorting the retail marketplace and harming consumers, ABA President and CEO Frank Keating said in an American Banker op-ed today responding to claims by retailers that the Federal Reserve set the fee cap too high.