US senator says to offer credit card fees measure

WASHINGTON, May 10 (BestGrowthStock) – U.S. Senator Richard Durbin,
the Senate’s No. 2 Democrat, said on Monday he plans this week
to offer an amendment to a landmark Wall Street reform bill
that addresses credit card fees affecting retailers.

So-called “interchange” fees are charged to supermarkets,
convenience stores and other merchants by credit card lenders
every time a customer uses a credit card. Fees totaled $48
billion in 2008, up from $42 billion in 2007.

Durbin wants to restrain the fees and said he will offer an
amendment to the sweeping reform bill now being debated.

“I want to bring this amendment to the floor for debate and
a vote,” Durbin said on the Senate floor.

“This will be the first time that interchange will taken
up, to my knowledge, on the floor of the United States
Congress … I’ll be offering that amendment this week.”
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(Reporting by Kevin Drawbaugh, Editing by Chizu Nomiyama)

US senator says to offer credit card fees measure