President Trump has made his disdain for the Dodd-Frank Act clear as day. In his first weeks in office, he even signed an executive order that said his administration will roll back the most punitive parts of the law.
This week, a coalition of conservative organizations ranging from the R Street Institute to the Taxpayers Protection Alliance dispatched a letter to Rep. Jeb Hensarling (R-Texas), the chairman of the House Financial Services Committee, urging repeal of the Durbin Amendment, a provision of the law that sets price controls on interchange fees for debit card purchases. If Congress wants to help “drain the swamp,” ending this corporate giveaway would be a great place to start.