NTU’s Executive Vice President, Brandon Arnold, responded to the repeal of the Durbin amendment:
National Taxpayers Union is extremely disappointed by the decision to remove language from the Financial CHOICE Act that would have repealed price controls on debit card swipe fees. While its supporters claim that the Durbin Amendment is a pro-consumer measure, it has instead been little more than a government-imposed windfall for the retail industry.
Even though it will not repeal the harmful Durbin Amendment, the CHOICE Act remains an incredibly important bill that will roll back many harmful regulations imposed by Dodd-Frank. NTU continues to strongly support the legislation and urges lawmakers to work to improve it as the process moves forward. Namely, we hope the Senate will reinsert language to repeal the Durbin Amendment when it considers the bill.