September 15, 2016

Joint Trades Letter Opposing the Durbin Amendment

Joint Trades Letter Opposing the Durbin Amendment
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FSR joined other financial trade associations, representing nearly every bank and credit union in the country, to express strong support for Section 335 of H.R. 5983, the Financial CHOICE Act. Section 335 would repeal the so-called “Durbin Amendment,” which imposed government price controls on debit card interchange fees—harming consumers and many small businesses in the process. Because of the Durbin Amendment, consumers now have fewer options to access low-cost banking services like free checking.