Welcome, Guest
Pewter Report  >>  Boards  >>  Pirate's Cove (Moderators: 3rd String Kicker, PRPatrol)  >>  Topic: Sen. Rand Paul and others finally get it right « previous next »
Page: 1 ... 4 5 6

John Galt?

*
Hall of Famer
******
Posts : 18831
Offline
#75 : March 18, 2011, 12:48:56 PM

Quote
Senators, coalition say whoa! to Durbin Amendment

A bipartisan group of U.S. senators introduced legislation March 15, 2011, calling for a two-year delay in the implementation of the Federal Reserve's rule on debit interchange so the implications of the rule can be studied further.

The bill, called the Debit Interchange Fee Study Act, is being sponsored by Sens. Jon Tester, D-Mont.; Bob Corker, R-Tenn.; Jon Kyl, R-Ariz.; Ben Nelson, D-Neb.; Tom Carper, D-Del.; Pat Roberts., R-Kan.; Chris **CENSORED**s., D-Del.; Mike Lee, R-Utah; and Pat Toomey, R-Pa.

In December 2010, the Fed proposed a set of rules implementing the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act that offered two options for capping interchange. Each option has a cap of 12 cents per transaction, reflecting a 70 percent reduction in the average 44-cent debit card interchange assessment in 2010, according to the Fed's calculations.

"The stakes are simply too high to move forward with this rule without a closer look at the impact on consumers, credit unions, community banks, and the small businesses and jobs they sustain," said Tester, a member of the Senate Banking Committee, in a statement. "That is why we need to make sure we stop and study these proposed rules before implementing anything."

The Dodd-Frank Act requires final rules related to the interchange fee provisions to be issued by April 21, and that the rules become effective on July 21.

http://www.greensheet.com/breakingnews.php?flag=breaking_news


dbucfan

*
Hall of Famer
******
Posts : 46179
Online
#76 : March 20, 2011, 08:41:36 AM

You mean - the Congress wants to both read and understand the outcome of their legislative intrusion into the economy - GET OUT....

\"A Great Coach has to have a Patient Wife, A Loyal Dog, and a Great Quarterback. . . . but not necessarily in that order\" ~ Coach Bud Grant

John Galt?

*
Hall of Famer
******
Posts : 18831
Offline
#77 : March 20, 2011, 11:50:52 AM

You mean - the Congress wants to both read and understand the outcome of their legislative intrusion into the economy - GET OUT....

I wonder if Pelosi no longer running the House and Reid hanging by a thread has anything to do with this?

Naw, couldn't be


dbucfan

*
Hall of Famer
******
Posts : 46179
Online
#78 : March 20, 2011, 12:18:22 PM

LMAO - you mean the automatic acceptance of all things Obama might have hit a snag as the issues are identified - yea - that could be a problem

\"A Great Coach has to have a Patient Wife, A Loyal Dog, and a Great Quarterback. . . . but not necessarily in that order\" ~ Coach Bud Grant
Page: 1 ... 4 5 6
Pewter Report  >>  Boards  >>  Pirate's Cove (Moderators: 3rd String Kicker, PRPatrol)  >>  Topic: Sen. Rand Paul and others finally get it right « previous next »
:

Hide Tools Show Tools