Rob Nichols


Congress Should Repeal the Durbin Amendment on Debit Card Transactions

Policymakers in Washington regularly trigger the law of unintended consequences, hurting the very people they profess to help. A prime example is the Durbin Amendment, a last-minute addition to the Dodd-Frank Act that placed the Federal Reserve in charge of pricing debit-card transactions and established new rules for how those transactions are routed.