| Welch statement on Senate passage of Durbin swipe fee amendment |
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| Thursday, 13 May 2010 00:00 |
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Rep. Peter Welch issued the following statement Thursday evening after the Senate passed an amendment to Wall Street reform legislation cracking down on excessive swipe fees credit card companies charge to small businesses.
Offered by Sen. Dick Durbin (D-Ill.), the amendment was modeled on two bills introduced by Welch in the House, the Credit Card Interchange Fees Act and the Electronic Check Parity Act. It passed by a bipartisan vote of 64-33. Welch said: "Tonight the United States Senate made clear that the credit card industry's days of ripping off consumers and small businesses alike are numbered. This momentous, overwhelming vote sends an unambiguous message to credit card companies that the American people have had enough of swipe fees and have had enough of cash register rip-offs." |
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Vermont Office
• 30 Main Street • Third Floor, Suite 350 • Burlington, VT 05401 • Phone: (802) 652-2450 or (888) 605-7270 • View Directions
Washington D.C. Office
• 1404 Longworth House Office Building • Washington, DC 20515 • Phone: (202) 225-4115 • View Directions
