When Bank of America announced a new $5 debit card fee in late September (along with a slew of other banks), President Barack Obama condemned it, and yesterday some Democrat Members of Congress called on Attorney General Eric Holder to launch an investigation. Unfortunately, they’re setting their sights on the wrong target. Instead …
In this week’s Heritage in Focus, regulatory fellow Diane Katz discusses a provision in the regulatory reform bill, also known as Dodd-Frank, that is leading banks to increase debit card fees. Listen here. The provision, known as the “Durbin amendment,” limits the amount banks can charge retailers when consumers swipe …
The Senate is looking to do some more spending with a vote today on the Economic Development Revitalization Act, which will cost $1.5 billion through 2016 and an additional $760 million thereafter. The goal? Reauthorize funding for the Economic Development Administration — a vehicle for political pet projects, masked as …
