June 6, 2011
Multiple sources tell the Credit Union Times that the much-anticipated faceoff over legislation to defer implementation of the Federal Reserve’s proposed debit card interchange limits could occur as soon as this Wednesday.
The amendment to delay implementation of the Fed debit proposal for 15 months would be presented by chief author Sen. Jon Tester (D-MT) during debate over a bill to fund the Economic Development Administration, according to the Credit Union Times.
“A spokeswoman for Tester, when asked about the timing and whether Tester had the votes to pass the amendment, wrote in an email that she didn’t have any updates,” the site reports.
Click here to read more on the impending Senate showdown to delay Durbin.
The Durbin Amendment: Myth vs. Reality
Fed Debit Proposal Will Be Reversed, Predicts Financial Sector Official
Risk Management Could Go Out the Window if Durbin Amendment Prevails
Tester Stands Up for Consumers, Offers Debit Card Compromise
How Much Will Durbin Pinch Your Pocket – Recap of New Bank Fees
Durbin Could Deter Mobile Payments, Says AT&T Head
“Dangerous and Irresponsible” to Dismantle Dodd-Frank, Says Head of Senate Banking Committee
Bernanke: Debit Interchange Proposal May Cause Banks to Fail
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