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The Electronic Payments Coalition submitted comments to Chairman Hensarling ahead of the planned markup of the Financial CHOICE Act, which includes a provision to repeal the Durbin Amendment.
Several trade organizations sent a jointly signed letter to members of the House Financial Services Committee in support of Section 335 of the CHOICE Act, which would repeal the Durbin Amendment.
The Electronic Payments Coalition submitted comments to the House Financial Services Committee on the Financial CHOICE Act, supporting the inclusion of the Durbin Amendment’s repeal.
Professor Todd Zywicki’s letter to the House Financial Services Committee offers support for repealing the Durbin Amendment, as included in the Financial CHOICE Act.
Despite Retailer Claims, Durbin Amendment Has Harmed Community Banks, Credit Unions and Small Businesses
On June 14, 2016, EPC’s members American Bankers Association (ABA), Consumer Bankers Association (CBA), Credit Union National Association (CUNA), Financial Services Roundtable (FSR), Independent Community Bankers of America (ICBA), and National Association of Federal Credit Unions (NAFCU) sent a letter to Chairmen Hensarling and Neugebauer in support of their efforts to repeal the Durbin Amendment.
A study by the Federal Reserve Bank of Richmond found that the Durbin Amendment is not working as Congress intended and has led to several unintended consequences. This resource provides further information on how the Amendment has failed consumers.