WASHINGTON — More than 50 state bankers associations have rallied behind legislation from Rep. Randy Neugebauer, R-Texas, to repeal caps on debit interchange fees.
The groups argue in a letter in a letter Friday to Neugebauer and other members of the House Financial Services Committee that an amendment added to the Dodd-Frank Act by Sen. Richard Durbin, D-Ill., failed to help consumers and instead benefited only retailers.