Visa disappointed with Durbin Amendment

Visa disappointed with Durbin Amendment
Tags: Payments
May 23, 2010

Visa Inc. said it was disappointed with an amendment passed Thursday with the U.S. Senate financial regulation bill that would limit interchange fees.

According to Reuters, the amendment was proposed by Senator Richard Durbin (D - Illinois) and allows retailers to shift their cost for accepting debit cards to consumers.

"Written and backed by lobbyists representing the nation's largest retailers, the Durbin Amendment could significantly harm consumers," Visa said in a statement.