Legislation would repeal Durbin Amendment
U.S. Reps. Jason Chaffetz (R-Utah) and Bill Owens (D-N.Y.) introduced legislation on Oct. 12 to repeal the debit card interchange price control provisions of the Dodd-Frank Act. “This is a perfect example of the dangers of price controls and the inefficiency of government intervention in the free market,” Chaffetz said. “The Durbin Amendment is an affront to consumers and the banking industry. These legislatively enacted price controls have compelled banks to charge consumers higher (and in some cases new) fees to . . .
This content is only accessible to members with a current subscription. If you are a subscriber but don't have online access, please contact us at 952-835-2275.