Washington, May 14, 2010 -- The following statement was issued by ETA Chief Executive Officer Carla Balakgie in response to the passage of an amendment by Sen. Richard Durbin (D-IL) to the financial reform bill now before the U.S. Senate:
“ETA is disappointed by passage of the Durbin amendment and very concerned about the impact it will have on many types of businesses in the electronic payments chain. This amendment will likely reduce credit availability for merchants and consumers, and raise the price of existing credit. As a champion of the benefits of electronic payments, ETA is also saddened to see the Senate, by allowing minimum and maximum purchase amounts, restrict consumers’ ability to utilize the convenience and safety of card payments in their daily lives.”
Source: Company press release.
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