Oppose Durbin Swipe Fee Amendment to Dodd Bill (Congress Wants Paper & Plastic)

ATR ^ | 5/13/10 | Brian M. Johnson

[Andrea19]

...Sen. Durbin wishes to give the Federal Reserve power to issue new rules regulating debit and credit card interchange fees.

Fees set for credit and debit card transactions should be negotiated by the merchant and the credit/debit companies based on their individual contractual agreements. Setting a blanket, national standard completely interferes with any free market negotiating power both sides currently enjoy.

It is not the job or role of the federal government to regulate the fees set by private companies in any matter. This is simply another attempt by Senate Democrats to regulate each and every aspect of our financial markets...

[Andrea19]

If you think that too many dollar bills get sent already, then wait until Senator Durbin starts regulating bank/credit cards...it's only fair, right?

Help promote Conservative activism here & here & here & here

[dalebert]

bump

[lucky american]

Yesterday, in the WSJ there was an article about 401 Ks and the inability of money managers to properly invest those dollars and the senate was looking at ways to control those funds “ for the people” because they were too stupid to do it themselves.
At what point do we say enough is enough?

You have to inform everyone. This is getting out of control and they are not listening.

[tnlibertarian]

On a loosely related note, why is it that about the only places that charge a fee for using a credit card instead of cash nowadays are government entities?