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Senator Tester thinks he has enough votes to delay debit card fee limits for 2 years! [View All]

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flpoljunkie Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 12:07 PM
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Senator Tester thinks he has enough votes to delay debit card fee limits for 2 years!
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(A big wet kiss to Wall Street from the Dems. They apparently didn't like all the money Wall Street gave Republicans in the November 2010 mid-terms. Banks in the U. S. charge more for debit card fee transactions than other developed countries--right now an average of 44 cent per swipe. Big profits for Wall Street and credit card companies. Durbin's bill would limit the fees from 7 to 12 cents per swipe. By the way, Ryan's bill is trying to gut the financial reform bill. No surprise, there.)

However, he did say that if the Senate can pass legislation delaying new limits on debit card fees, the House would promptly send it to the president.

"If something passes the Senate, I believe it will go through the House very quickly," he said. "It really depends on the Senate."

Sen. Jon Tester (D-Mont.) said Wednesday he believes he has the needed 60 votes to pass his bill delaying the new caps for two years, but the timing of a vote is not yet known.

http://thehill.com/blogs/on-the-money/banking-financial-institutions/154573-dems-gop-trying-to-kill-wall-street-reform-with-ryan-budget
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