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Durbin Calls Interchange Hearing for June 16 |
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 While a U.S. House and Senate conference committee works on financial reform legislation, Sen. Richard Durbin (D-IL) will try to shoreup support for his amendment on interchange regulation by holding a hastily-called hearing on Wednesday June 16, before the Senate Appropriations Committee's Financial Services and General Government Subcommittee. Durbin chairs the subcommittee.
Witnesses include representatives of the Treasury Department, Government Accountability Office and Amtrak, along with Bruce Sullivan, Vice President of Government Solutions for Visa Inc., Ed Mierzwinski, Consumer Program Director, U.S. Public Interest Research Group, and Wendy Chronister, President and CEO, Qik'n EZ Stores, Springfield, Illinois.
The hearing comes as opposition to Durbin's interchange amendment began to develop in the House. Rep. Debbie Wasserman Schultz has persuaded more than 80 colleagues to oppose a Senate plan to regulate debit-card “swipe” fees.
Wasserman Schultz, a Florida Democrat and member of the House majority’s leadership team, and Kenny Marchant, a Texas Republican, are circulating the letter today to all House members urging them to fight the proposal, Wasserman Schultz spokesman Jonathan Beeton said in an e-mail. Another 81 House members signed the letter, Beeton said.
You can follow developments regarding the Durbin amendment at the Voice Of Payments, ETA's advocacy portal, which includes tools to help you contact your representatives in Congress.
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