“Several lawmakers who supported the debit card amendment or the broader financial regulation bill as a whole are now reversing course, as the antibank climate here softens. ‘I believe the Fed was given too narrow of set of rules’ with which to draft the regulation, said Representative Barney Frank, the Massachusetts Democrat who sponsored Dodd-Frank in the House, which never voted separately on the debit-fee amendment. ‘Now there is genuine political pressure to do something. It’s very much in play.'”
“I believe the Fed was given too narrow of set of rules. . . . Now there is genuine political pressure to do something. It’s very much in play.” [Rep. Barney Frank]