Senator Chris Dodd has joined Congressman Barney Frank in expressing concern about the debit-related provisions in the sweeping legislation that bears their names.
In an interview with the Wall Street Journal published earlier today, Senator Dodd tells the Wall Street Journal that “[the ‘interchange’ proposal dealing with credit and debit card fees paid by retailers] is maybe one where the Fed is overreaching.”
Posted by: Will Valentine, Visa Corporate Relations on December 21, 2010 at 3:24 pm
When J.J. Hickson, a 22-year-old basketball player for the Cleveland Cavaliers, was asked by Wall Street Journal reporter, David Biderman, about his plans to financially weather a potential lockout in the NBA, Mr. Hickson answered honestly, “I don’t know anything about that saving stuff.”
Posted by: Jason Alderman, Visa Corporate Relations on November 23, 2010 at 9:14 pm
If you saw today’s article in The Wall Street Journal about how a handful of merchants are choosing not to accept credit and debit cards, you might have gotten the impression that merchants and consumers are looking to migrate back to cash payments. It will not come as a surprise that we have a different perspective.
Posted by: Will Valentine, Visa Corporate Relations on August 19, 2010 at 6:38 pm
Until just a few years ago, paying at vending machines evoked images of frustration – trying to stuff and flatten a frayed dollar bill into the dollar slot (only to have it ultimately rejected), scraping together nickels, dimes and quarters to try and pull together $1.00 for a root beer, or – the worst scenario – realizing that you have no cash or coins on you and that would have to go without the Snickers you were craving. Luckily, for snackers across the country, according to the Wall Street Journal some of the nation’s largest vending-machine operators have begun to deploy payment card readers in machines that dispense candy bars, potato chips and soda pop.
Posted by: Liz Nunan, Visa Corporate Relations on August 6, 2010 at 11:58 am
We’re pleased to see influential voices covering the interchange debate highlight the unintended consequences that could result from the Durbin amendment on debit interchange, which The Economist described as “draconian.” As we type, we are seeing more and more, major news outlets – no matter which side of the aisle they usually lean – question what this amendment actually means for consumers.
Posted by: Will Valentine, Visa Corporate Relations on May 21, 2010 at 6:25 pm