Topic - Richard Durbin

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    ZYWICKI & WRIGHT: Durbin's antitrust fantasies

    As the House and Senate conference commit- tee members negoti- ate differences in their versions of financial regulatory reform, one controversial provision is the late night amendment added by Democratic Sen. Richard Durbin of Illinois, which imposes price controls on debit card interchange fees. Under his amendment, the Federal Reserve would be required to set allowable charges of interchange at a rate "reasonable and proportional" to the incremental cost of processing the transaction.

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  • As the House and Senate conference commit- tee members negoti- ate differences in their versions of financial regulatory reform, one controversial provision is the late night amendment added by Democratic Sen. Richard Durbin of Illinois, which imposes price controls on debit card interchange fees.

    ZYWICKI & WRIGHT: Durbin's antitrust fantasies →

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