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

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flpoljunkie Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 12:07 PM
Original message
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.

http://thehill.com/blogs/on-the-money/banking-financial...
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tabatha Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 12:09 PM
Response to Original message
1. I am beginning to think that Tester is a DINO.
Maybe that is why he was elected in a red state.
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librechik Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 12:10 PM
Response to Reply #1
2. beginning?
sigh
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tabatha Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 12:17 PM
Response to Reply #2
4. I am not up-to-date with his state. I don't live there.
Edited on Thu Apr-07-11 12:18 PM by tabatha
There are only two things that have crossed my reading wrt Tester, and both were disconcerting.
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librechik Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 06:02 PM
Response to Reply #4
5. he's a minor figure to be sure--I'm not surprised you didn't know of him.
cheers!
:hi:
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flpoljunkie Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 12:15 PM
Response to Reply #1
3. He maintains it will hurt small banks. The fee can range from 7 to 12 cents.
Edited on Thu Apr-07-11 12:18 PM by flpoljunkie
I would expect they would be allowed to charge more than the big banks and credit card companies because of 'volume, volume, volume' regarding big banks, credit card companes.

Big bank profits are returning to obscene levels. This is not the real economy and does not promote job growth.
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flpoljunkie Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-13-11 03:49 PM
Response to Original message
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

http://thomas.loc.gov/cgi-bin/query/z?c112:S.575:
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flpoljunkie Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-13-11 04:01 PM
Response to Original message
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)

http://thomas.loc.gov/cgi-bin/query/z?c112:H.R.1081:
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