March 28, 2011
Durbin: Fed’s Debit Plan Does Not Need Further Study

March 28, 2011 Senator Richard Durbin (D-IL) argued against deferring implementation of the Federal Reserve’s proposed debit interchange caps for the purpose of additional review in an interview with Betty...

March 28, 2011
Warren to Critics: Concentrate on Wall Street “Behemoths,” Not CFPB

Elizabeth Warren struck back at the Consumer Financial Protection Bureau’s opponents in a March 24 interview with Bloomberg News, stating that lawmakers should be focused on regulation of Wall Street...

March 27, 2011
Wells Fargo Ends Debit Rewards Program, Days after Chase

Wells Fargo, the bank with the largest U.S. branch network, will no longer makes its debit card rewards programs available to newly enrolled participants in light of the proposed limits...

March 24, 2011
Sen. Corker “Shocked” That Durbin Passed in Reform Bill

Bob Corker (R-TN) was among the bipartisan group of nine senators who introduced a bill March 15 to delay implementation of the Fed’s proposed debit card regulations for two years...

March 24, 2011
Fed Vows to Help Small Banks Avoid Repercussion from New...

Federal Reserve Chairman Ben Bernanke promised his organization would use “all the power we can” to protect small banks and credit unions from any harmful ramifications stemming from proposed debit...

March 21, 2011
Regulations’ Latest Victim: Chase Cancels Debit Rewards

Chase has decided to cancel its debit card rewards program after July 19 in light of potential caps on interchange fees, according to ABC News. The news outlet reports that...

March 21, 2011
Wells Fargo CEO: Debit Interchange Caps ‘Make No Sense’

Wells Fargo & Co. (WFC) Chief Executive Officer John Stumpf in his annual letter to shareholders asserted that capping debit interchange fees would “make no sense” and interfere with free-...

March 03, 2011
Banking Lobbyists Appear Divided on CFPB

The new Consumer Financial Protection Bureau has the bank lobbying community split, according to the Huffington Post.  “A Tuesday letter urging greater deliberation and care in adopting new regulations that...

February 18, 2011
Durbin Responds to Chairman Bernanke on Interchange Fees

Thursday, February 17, 2011 [WASHINGTON, D.C.] – Assistant Senate Majority Leader Dick Durbin (D-IL) responded to criticisms of his new interchange law today, hours after Federal Reserve Chairman Ben Bernanke...