Changes to Debit- Fee Cap Backed by U.S. House’s Frank

Bloomberg | January 20, 2011

“U.S. Representative Barney Frank, one of the authors of the financial regulatory overhaul, said he is ready to work with the Republican majority to force changes in a Federal Reserve proposal to cap debit-card ‘swipe’ fees. . . . The comments by Frank, a Massachusetts Democrat and former chairman of the House Financial Services Committee, are the strongest indication to date that there may be a bipartisan effort on legislative changes to the section of the Dodd-Frank law that instructs the Fed to set the limits.”

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