In the battle over the potential negative effects for community banks from the Dodd-Frank Act, it all comes down to the Durbin amendment.
The provision to limit debit interchange fees has become the go-to example of how the regulatory reform law will hurt smaller institutions and is one of the only measures most major players agree on — with the notable exception of Sen. Richard Durbin, D-Ill., the amendment's author. At a Senate Banking Committee hearing Wednesday on the state of community banking, the provision once again took center stage.
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