Sens. Jon Tester and Bob Corker will likely introduce legislation early next week that would mandate a two-year postponement of the implementation of the Federal Reserve's proposed rule regulating interchange fees, sources told Credit Union Times today.
The measure would call for additional study of the issue. The Fed has issued a draft rule; a final rule must be approved by April 21 and in effect by July 21.
Tester (D-Mont.) has telegraphed his plans on the issue before, including during a speech at CUNA's Governmental Affairs Conference last week.
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