- Oct 11, 2000
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http://www.latimes.com/news/politics/la-pn-swipe-fee-bill-20110608,0,4994594.story
The delay in implementation is just a delay tactic to give the big banks more time to send out their minioins to work on the Congressfolk to kill the cap permanently. Glad it didn't work. Now it will be interesting to see who sided with the banks and who sided with (small) businesses.
EDIT: Link to the bill S.575
The Senate rejected legislation Wednesday that would have halted pending federal regulations to limit the debit card swipe fees that financial institutions charge retailers, in a narrow vote that rekindled populist fervor against Wall Street.
The 54-45 vote did not split along typical partisan lines. Instead it pit one populist Democrat, Sen. Richard Durbin of Illinois, against another, Sen. Jon Tester of Montana, as both claimed to be fighting to protect consumers and small banks from fees that totaled $16 billion in 2009.
The delay in implementation is just a delay tactic to give the big banks more time to send out their minioins to work on the Congressfolk to kill the cap permanently. Glad it didn't work. Now it will be interesting to see who sided with the banks and who sided with (small) businesses.
EDIT: Link to the bill S.575
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