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Sen. Dick Durbin Reiterates Need For Interchange Reform

Majority whip, in speech Thursday, said credit union and small banks are "becoming part of big banking."

By Claude R. Marx | Updated on May 05, 2011

Senate Majority Whip Dick Durbin took to the Senate floor again to reiterate the need for interchange reform and said small banks and credit unions are acting more like large financial institutions in opposing his efforts.

He said in a speech Thursday that the smaller financial institutions are “becoming part of big banking,’’ as a result of their efforts in the interchange fight and said “it’s not healthy for them and not healthy for the economy.’’

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