Saying that that more information is needed on the unintended consequences of capping interchange fees, Rep. Shelley Moore Capito last night introduced legislation that would delay the implementation of the Fed’s interchange rule by one year.

“My bipartisan bill provides for a one-year delay and allows the Federal Reserve, FDIC, OCC and NCUA to study potential unintended consequences of capping the interchange fee at 12 cents then make recommendations for changes, if necessary. Simply put, the stakes are too high for consumers to let this rule go forward without answering some of these critical questions,” Capito (R-W.Va.) said in a statement.

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