Credit unions won a victory Thursday night when a Senate committee approved an amendment to remove a provision that would limit credit card interchange rates on government transactions.
As a result, a key spending bill won't include the provision mandating that interchange fees on credit card transactions for purchases from the government be no higher than the lowest current market rate.
The Senate Appropriations Committee approved an amendment by Sen. Susan Collins (R-Maine) that struck the provision inserted by Sen. Majority Whip Richard Durbin (D-Ill.) to limit interchange fees.
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