In Case You Missed it: McConnell says Senate Unlikely to Interfere with Swipe Fee Reform
Washington, DC– Senate Minority Leader Mitch McConnell dismissed the idea that the Senate would consider rolling back bipartisan debit swipe fee reforms passed last year.
“Senate Minority Leader Mitch McConnell threw cold water on the likelihood that the Senate might revisit the interchange amendment that was passed as part of last year’s financial overhaul bill.
“I don’t think the administration is interested in revisiting the issue…” said McConnell.
(Marx, Claude R., “McConnell Doubts Senate Will Take Up Debit Interchange,” Credit Union Times, January 25, 2011)
The reforms, passed in the Senate last year by a vote of 64 to 33 with the support of 17 Republicans, will bring fairness to a broken payments market that costs consumers and small businesses more than $50 billion every year.
To watch the video, click here (36:51 to 37:44)
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