Sen. Jon Tester (D-Mont.) will attempt to offer his bill to delay the implementation of the Federal Reserve's debit interchange rule as part of a bill to fund the Small Business Administration currently being discussed in the Senate.
If it is allowed to be offered, the amendment, which has 16 co-sponsors, would likely require 60 votes to pass, as Senate Majority Whip Richard Durbin (D-Ill.), who sponsored the original amendment to mandate that the Fed write a rule, has said he will filibuster attempts to weaken it.
Tester's decision comes in the wake of Federal Reserve Chairman Ben Bernanke's announcement that his agency won't have the final rule in place by the April 21 deadline because of the more than 11,000 comment letters it received. He wrote lawmakers that the central bank plans to have the regulations completed by the July 21 deadline for them to take effect.
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