A lawyer and academic addressing a Washington D.C. meeting oncard interchange told attendees that the so-called Durbin amendmentshould really be called the Walgreens Amendment.
Thomas Brown, an adjunct law professor with the University ofCalifornia's Boalt School of Law and former senior counsel for VISAInc. told academics, economics and officials attending a conferenceon The Economics and Regulation of Payment Card Interchange Feesthat Senator Richard Durbin (D-Ill.) drafted it after taking a callfrom the CEO of the Walgreens drug store chain.
I think the Durbin amendment should more appropriately be calledthe Walgreens Amendment since I understand that Senator Durbin onlydrafted it after taking a call from the CEO of Walgreens, Browntold the attendees.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
