Coalition Letter to Prevent Further Expansion of the Durbin Amendment
Dear Chairman Brown, Ranking Member Toomey, Chairwoman Waters and Ranking Member McHenry, On behalf of the undersigned organizations representing millions of consumers, we write to express our opposition toward legislative and Federal Reserve efforts that expand the Durbin Amendment routing mandate, both of which would limit competition and choice in the debit and credit card marketplace. Retail trade associations have consistently lobbied for greater intervention from the Federal Reserve, including forcing market participants to allow competitors to free ride on their innovative technology, ...