Over the past several weeks, IBAT has requested outreach on the expansion of the Durbin Amendment price and routing controls to include credit card transactions. The latest from Washington, D.C. on this issue is a move by Senators Durbin and Marshall to add this provision to a “must pass” National Defense Authorization Act (NDAA).
Please take a moment to weigh in on this crucial issue with your elected officials by direct contact or through IBAT’s Grassroots Action Center to express how this will negatively impact both your bank and your customers. With a House bill recently filed to complement the Senate version, our Texas Congressional Delegation needs to hear from the community bankers. For reference, the recent joint letter sent by the financial institution trade groups details our concerns with this particular misguided legislative initiative.