DURBIN AMENDMENT FIGHT RETURNS — Rep. Randy Neugebauer on Tuesday introduced H.R. 5465 to repeal the Durbin Amendment with support from the Electronic Payments Coalition — American Bankers Association, Consumer Bankers Association, Credit Union National Association, Financial Services Roundtable, Independent Community Bankers of America and the National Association of Federal Credit Unions
DURBIN NOT PLEASED — Per release from Sen. Dick Durbin (D-Ill.): “Repealing the Durbin Amendment would be a windfall for Visa, MasterCard and the nation’s biggest banks, but it would diminish transparency and competition in the debit card system and harm millions of Main Street merchants and their customers. Make no mistake – Main Street will not give up its hard-won gains under the Durbin Amendment without a fight. And repeal of the Durbin Amendment will not happen on my watch.”