“A week after asking lawmakers to delay Federal Reserve rules capping debit-card “swipe fees,” a group representing major tech companies changed course.
“TechNet, which represents executives at major U.S. tech companies, retracted its support for a bill to delay rules that would limit the fees that banks charge retailers when consumers use debit cards.
http://blogs.wsj.com/washwire/2011/04/13/technet-shifts-to-neutral-on-swipe-fee-rules/
“Hilary Shelton, director of the NAACP’s Washington bureau, sent a letter to House Speaker John Boehner (R., Ohio) offering “clarification of NAACP position on interchange fees.” He made it clear he doesn’t want a delay, and fully supports the provision in last year’s Dodd-Frank financial overhaul law that required the Federal Reserve to impose the lid on the so-called swipe fees.
“Mr. Shelton said he realized people had the wrong idea when a MasterCard Inc. official recently thanked him for his March letter. Mr. Shelton said he was shocked because he doesn’t support banks’ push for a delay in the rules.
http://blogs.wsj.com/washwire/2011/04/12/naacp-sets-record-straight-on-swipe-fee-rule/?mod=google_news_blog