Spencer Bachus, the chairman emeritus of the House Financial Services Committee, said during a speech on Tuesday that Congress may “revisit” Dodd-Frank’s Durbin Amendment, citing the provision’s unintended impact on local financial institutions, BankCreditNews.com reported.
The site quoted the Credit Union Times by adding that “while credit unions and other small financial institutions are supposed to be protected from the impact of the Durbin Amendment’s cap on interchange fees, credit unions saw interchange revenue fall by more than $1 million in the third quarter of the year.”
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