Senator Tester thinks he has enough votes to delay debit card fee limits for 2 years!
(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.
6. S. 575: Tester's bill to delay debit card fee limits for two years has 16 cosponsors.
S.575 Latest Title: Debit Interchange Fee Study Act of 2011
Sponsor: Sen Tester, Jon (introduced 3/15/2011) Cosponsors (16)
Latest Major Action: 3/15/2011 Referred to Senate committee. Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
(Nine of them are Republicans) COSPONSORS(16), ALPHABETICAL : (Sort: by date)
Sen Akaka, Daniel K. - 3/17/2011 Sen Baucus, Max - 3/17/2011 Sen Blunt, Roy - 3/29/2011 Sen Carper, Thomas R. - 3/15/2011 Sen Coburn, Tom - 3/15/2011 Sen Coons, Christopher A. - 3/15/2011 Sen Corker, Bob - 3/15/2011 Sen Kyl, Jon - 3/15/2011 Sen Lee, Mike - 3/15/2011 Sen McCaskill, Claire - 3/16/2011 Sen Nelson, Bill - 3/29/2011 Sen Nelson, E. Benjamin - 3/15/2011 Sen Roberts, Pat - 3/15/2011 Sen Sessions, Jeff - 3/29/2011 Sen Thune, John - 3/15/2011 Sen Toomey, Pat - 3/15/2011
7. The House counterpart, H.R. 1081, is laughably titled the 'Consumers Payment System Protection Act.
(I understand Debbie Wasserman Schultz, the new chair of the DNC, is the co-author of the bill. The Democrats are apparently looking for Wall Street lobbyists to help fill their campaign coffers for 2012. Durbin's amendment, which is part of the financial reform law, would cap the fees somewhere between 7 and 12 cents. Big banks charge an average of 44 cents per transaction. Big profits are on the line.)
H.R.1081 Latest Title: Consumers Payment System Protection Act
Sponsor: Rep Capito, Shelley Moore (introduced 3/15/2011) Cosponsors (79) Latest Major Action: 4/4/2011 Referred to House subcommittee. Status: Referred to the Subcommittee on Financial Institutions and Consumer Credit. COSPONSORS(79), ALPHABETICAL : (Sort: by date)
Rep Bachmann, Michele - 3/15/2011 Rep Bartlett, Roscoe G. - 3/15/2011 Rep Bilbray, Brian P. - 4/1/2011 Rep Bonner, Jo - 3/17/2011 Rep Bucshon, Larry - 3/30/2011 Rep Burton, Dan - 3/16/2011 Rep Butterfield, G. K. - 3/29/2011 Rep Canseco, Francisco "Quico" - 3/15/2011 Rep Carney, John - 3/15/2011 Rep Chaffetz, Jason - 3/15/2011 Rep Clarke, Hansen - 4/4/2011 Rep Coffman, Mike - 3/29/2011 Rep Connolly, Gerald E. "Gerry" - 3/15/2011 Rep Courtney, Joe - 3/31/2011 Rep Critz, Mark S. - 3/30/2011 Rep Crowley, Joseph - 3/17/2011 Rep Cuellar, Henry - 3/17/2011 Rep Davis, Susan A. - 3/31/2011 Rep DeFazio, Peter A. - 4/8/2011 Rep Filner, Bob - 3/29/2011 Rep Flores, Bill - 3/29/2011 Rep Foxx, Virginia - 3/17/2011 Rep Gibbs, Bob - 3/15/2011 Rep Gowdy, Trey - 3/30/2011 Rep Green, Al - 3/31/2011 Rep Hastings, Alcee L. - 3/29/2011 Rep Heinrich, Martin - 3/17/2011 Rep Hensarling, Jeb - 3/15/2011 Rep Herger, Wally - 3/15/2011 Rep Holden, Tim - 3/29/2011 Rep Huelskamp, Tim - 4/4/2011 Rep Hunter, Duncan D. - 4/8/2011 Rep Johnson, Henry C. "Hank," Jr. - 3/17/2011 Rep Kelly, Mike - 3/15/2011 Rep Kildee, Dale E. - 3/15/2011 Rep Kissell, Larry - 3/15/2011 Rep Lamborn, Doug - 3/17/2011 Rep Landry, Jeffrey M. - 3/17/2011 Rep Larsen, Rick - 3/31/2011 Rep Luetkemeyer, Blaine - 3/15/2011 Rep Lujan, Ben Ray - 3/17/2011 Rep Marchant, Kenny - 3/15/2011 Rep McCarthy, Carolyn - 3/15/2011 Rep McClintock, Tom - 3/15/2011 Rep McIntyre, Mike - 3/29/2011 Rep Meeks, Gregory W. - 3/15/2011 Rep Miller, Gary G. - 3/15/2011 Rep Miller, Jeff - 4/1/2011 Rep Moore, Gwen - 4/8/2011 Rep Napolitano, Grace F. - 3/17/2011 Rep Neugebauer, Randy - 3/15/2011 Rep Owens, William L. - 3/15/2011 Rep Paul, Ron - 3/29/2011 Rep Perlmutter, Ed - 3/15/2011 Rep Peters, Gary C. - 3/15/2011 Rep Polis, Jared - 3/15/2011 Rep Rahall, Nick J., II - 3/17/2011 Rep Renacci, James B. - 3/15/2011 Rep Rivera, David - 3/30/2011 Rep Royce, Edward R. - 3/15/2011 Rep Ruppersberger, C. A. Dutch - 3/29/2011 Rep Sarbanes, John P. - 4/4/2011 Rep Scott, David - 3/29/2011 Rep Sensenbrenner, F. James, Jr. - 3/31/2011 Rep Sessions, Pete - 3/16/2011 Rep Sherman, Brad - 4/8/2011 Rep Sires, Albio - 3/16/2011 Rep Smith, Adrian - 4/8/2011 Rep Stutzman, Marlin A. - 4/8/2011 Rep Terry, Lee - 3/30/2011 Rep Thornberry, Mac - 3/31/2011 Rep Tipton, Scott - 3/16/2011 Rep Wasserman Schultz, Debbie - 3/15/2011 Rep Watt, Melvin L. - 4/12/2011 Rep West, Allen B. - 4/4/2011 Rep Wilson, Joe - 4/1/2011 Rep Wolf, Frank R. - 3/30/2011 Rep Woolsey, Lynn C. - 3/15/2011 Rep Young, Don - 4/12/2011Rep Ellmers, Renee L. - 3/30/2011(withdrawn - 3/31/2011)
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