Senator Durbin To Powerful Bank Lobbyists: Stand Down – Halah Touryalai – Working Capital – Forbes


Durbin replied in a letter yesterday that basically tells Keating he’s full of it.

From Durbin’s letter:…You say in your letter that the amendment Congress enacted last year will have “negative effects” on “banks of all sizes, on consumers and on the broader economy.” This claim sounds alarming, but your industry seems to make this claim in response to any and all efforts to reform the interchange fee system…I urge your association to stand down your massive misleading lobbying effort which is aimed at preventing the Federal Reserve from ever coming forward with reasonable financial regulations, and instead to let the regulatory process continue as Congress intended.

via Senator Durbin To Powerful Bank Lobbyists: Stand Down – Halah Touryalai – Working Capital – Forbes.

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