The U.S. House Committee on Financial Services Hearing on the "Implications and Consequences of the Durbin Amendment" was held today. The House website has a video webcast of the hearing and the written testimony of all the different stakeholders. The U.S. Senate Banking Committee is also holding a hearing on the Dodd-Frank Act today.
Various outlets have different takes on how the proposed Federal Reserve rules are being received in the industry:
- Bloomberg: Banks, Retailers Renew Fight Over Debit ‘Swipe’ Fees
- USA Today: Fed Reconsiders 12-cent Cap on Debit Card Fees
- New York Times: Bernanke Says Fed Has Learned Lessons From the Recession