Durbin Amendment Should Be Called Walgreens Amendment, Expert Says
A lawyer and academic addressing a Washington D.C. meeting on card interchange told attendees that the so-called Durbin amendment should really be called the Walgreens Amendment.
Thomas Brown, an adjunct law professor with the University of California's Boalt School of Law and former senior counsel for VISA Inc. told academics, economics and officials attending a conference on The Economics and Regulation of Payment Card Interchange Fees that Senator Richard Durbin (D-Ill.) drafted it after taking a call from the CEO of the Walgreens drug store chain.
I think the Durbin amendment should more appropriately be called the Walgreens Amendment since I understand that Senator Durbin only drafted it after taking a call from the CEO of Walgreens, Brown told the attendees.
A spokesman for Senator Durbin denied the assertion.Walgreens has its headquarters in the greater Chicago area and Walgreens President/CEO Gregory Wasson serves on the board of directors of the National Association of Chain Drug Stores.