Durbin defends debit card interchange reform | Bankrate.com


On Friday, Assistant Senate Majority Leader Dick Durbin, D-Ill., fired off a letter to the CEOs of the Independent Community Bankers of America, or ICBA, and the Credit Union Nation Association, or CUNA, countering their arguments against reform of interchange fees for debit card transactions. According to the Senator’s website, his amendment, which the Senate included in its financial reform bill, would “direct the Fed to issue rules to ensure that debit interchange fees are reasonable and proportional to the processing costs incurred.”

READ ARTICLE via Durbin defends debit card interchange reform | Bankrate.com.

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