House duo backs banks on cards – TheHill.com


The Senate included in its version of the bill a provision requiring the Federal Reserve to set “reasonable and proportional” rates paid by merchants and retailers to debit card issuers, such as banks and credit unions. The measure drew broad bipartisan support as an amendment on the Senate floor and represented a major win for merchants, retailers and Senate Majority Whip Dick Durbin (D-Ill.), the provision’s main sponsor.

READ ARTICLE: via House duo backs banks on cards – TheHill.com.

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