Congress should repeal the cap on the fees banks can charge on debit cards, under the Durbin Amendment to the Dodd-Frank financial regulation law; this has increased banking fees and added around a million people to the ranks of the “unbanked” since 2010.
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Capping fees on card transactions has not worked out as planned
The Economist
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On the Third Anniversary of the Durbin Amendment, 94% of Consumers Not Seeing the Savings Retailers Promised Them
Electronic Payments Coalition
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Press Releases / Statements
Despite $1 Billion Annual Subsidy for Gas Retailers, Consumers Seeing No Relief at the Pump This Summer
Electronic Payments Coalition
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Press Releases / Statements