Durbin on Interchange Fees | CSP Daily News / Magazine | CSP Information Group, Inc.


WASHINGTON — Assistant Senate Majority Leader and chairman of the Senate Appropriations Subcommittee o

n Financial Services & General Government Dick Durbin D-Ill. chaired an oversight hearing yesterday on the federal governments payment of interchange fees.The hearing follows the release of a Treasury Department report that concluded that the federal government could save nearly $40 million a year of taxpayer dollars if Treasury were allowed to negotiate interchange rates with Visa and MasterCard—something it is currently unable to do.

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