Frank Announces Support for Delay of Interchange Rule
Rep. Barney Frank, the senior Democrat on the House Financial Services Committee, today endorsed legislation that would delay implementation of the Federal Reserve’s rule regulating debit interchange fees.
“The Federal Reserve’s announcement that they cannot meet the deadline on interchange fees confirms my view that this is the only part of the financial reform bill that needs to be amended. For this reason, I support legislative action to postpone the deadline so that we can revisit it,’’ Frank (D-Mass.) said in a statement.