Bankers group encouraged by bid to quash debit fees cap
by Ted Carter Published: March 20,2011
Tags: American Bankers Association, Ben Bernanke, Debbie Wasserman Schultz, Dick Durbin, Evelyn Mitchell, John Allison, Sheila Bair, Shelley Moore Capito
The American Bankers Association says legislation introduced in the Senate last Tuesday gives it hope that banks can avoid a pending cut in the fees they receive from merchants on debit card transactions. The so-called Durbin amendment, named after sponsor Sen. Dick Durbin of Illinois, mandates the Federal Reserve’s Board of Governors put a cap [...] [...]
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