New Bill Wants to Repeal Durbin Amendment

On Wednesday, Representative Jason Chaffetz (R-UT) introduced H.R. 3156 to the floor, co-sponsored by Representative Bill Owens (D-NY). The bill is called the Consumer Debit Card Protection Act, and it’s sole goal is to repeal the limits on interchange fees introduced by the Durbin Amendmendment

Forbes: The battle over the controversial Durbin Amendment isn’t over yet as lawmakers attempt to repeal the rule today.

Representatives Jason Chaffetz (R-Utah) and Bill Owens (D-N.Y.) are introducing a bill that would repeal the Durbin Amendment. They say the rule, which places a cap on the amount that banks can charge retailers each time a customer swipes their debit card, hurts customers and banks. read more

News for durbin repeal

Reuters Blogs

New Bill Aims to Repeal Durbin Amendment MyBankTracker.com - 2 hours ago By Willy Staley Fri Oct 14, 2011 A bill was introduced to the House of Representatives that seeks to repeal the Durbin Amendment. Does it stand a chance? ... 7 related articles New Bill Aims To Kill Durbin's Debit Card Fees Forbes - 31 related articles