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News & Press: FEDERAL LEGISLATION

House Leadership Removing Durbin Repeal Language

Wednesday, May 31, 2017   (0 Comments)
Posted by: PMAA

House Leadership Removing Durbin Repeal Language
Significant Victory for Petroleum Marketers

PMAA is pleased to report that this week House leadership decided to drop the language from the Financial CHOICE Act that would have repealed the Durbin Amendment!

Earlier this month, the House Financial Services Committee passed the CHOICE Act along party lines which included a provision to repeal debit card fee reform, aka the Durbin Amendment. Repealing the Durbin Amendment would harm petroleum marketers because the Durbin language brought competition to the debit card fee market. Last week, nearly 300 PMAA petroleum marketers, including PMCI educated lawmakers on the benefits of debit card fee reform, and in the end, House leadership decided that it was best to strip the Durbin repeal language from the overall bill.

PMAA would like to thank everyone who has sent a letter or email, or who has talked with their representatives about the importance of the Durbin language over the past year. We thank all attendees for their work last week to educate lawmakers on the benefits of debit card fee reform. The visits contributed to this decision to strip the repeal language.


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