In September, the House Financial Services Committee (HFSC) approved legislation that would repeal a Dodd-Frank provision called the Durbin Amendment that set limits on the fees some banks charge retailers to swipe debit cards.
In a frenzy of Orwellian doublespeak before and after this vote, Durbin Amendment supporters argued the provision is “free market” (it boosts competition!) and consumer friendly (it’s a vital part of U.S. antitrust law!). The majority of the HFSC didn’t fall for it.
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EPC Calls for Durbin Amendment Repeal and Better Security Standards: Support H.R. 5465, H.R. 5983 and H.R. 2205 to Protect Consumers
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