Bids for Delay of Durbin Amendment in Congress
Credit unions and other opponents of the Federal Reserve’s proposed rule capping debit interchange fees received good news last week when bills to delay the rule’s implementation were introduced in the Senate and House.
Sen. Jon Tester (D-Mont.) introduced legislation calling for a two-year delay while the bill introduced by Rep. Shelley Moore Capito (R-W.Va.) delays implementation by one year. Tester and Capito introduced their bills on March 15.