Led by U.S. Representatives Debbie Wasserman Schultz (D-FL) and Kenny Marchant (R-TX), a bipartisan group of 131 congressional leaders jointly issued a letter yesterday clearly expressing their “grave concerns” about the Durbin Amendment.
We were heartened to see such a large group of political leaders vocally acknowledge the benefits offered by electronic payment systems (and interchange), including guaranteed payment and fraud prevention, lower labor and processing costs, and increased sales.
Of particular note, the letter cites “strong reservations about the lack of Congressional review, debate or study” regarding the provisions included in the amendment.
The bipartisan group joins the growing chorus of opposition to this anti-consumer legislation. Day by day, there is evidence of mounting concerns across America that big box retailers will pad their profits at the expense of consumers if government price controls are actually implemented.
Posted by: Will Valentine, Visa Corporate Relations on June 17, 2010 at 10:42 am
