After year-long battle between financial institutions and retailers, measure to delay interchange cap fails by six votes.
Senate vote expected at 2 p.m. today; sources report that measure delaying interchange cap within a few votes of passing.
Vote now set for Wednesday on move to delay implementation of Fed's new debit interchange cap.
The Federal Reserve’s rule regulating debit interchange fees could be delayed by at least six months if lawmakers approve a compromise proposal being discussed by several key senators.
Several sources tell Credit Union Times that Sen. Jon Tester (D-Mont.) will offer amendment during debate of a funding bill.
Senate meeting this week only enough to prevent recess appointment of Warren to head of new CFPB.
Washington, D.C. publications, stations venue for pitch for no delay to Fed's interchange debit cap.
PATRIOT Act debate likely to dominate calendar, followed by Senate recess.
Nevada Democrat says he might allow a vote on the interchange cap delay.
Fed chair tells Senate Banking Committee that some small banks could fail because of interchange cap.