Durbin amendment of Dodd-Frank a miserably bad attempt at price control
Las Vegas Sun discusses the Durbin amendment of the Dodd-Frank bill with Sam Kazman.
The disappearance of free debit cards and free checking accounts is highlighted by the “Durbin Dollars” campaign from the Competitive Enterprise Institute. The group urges citizens to send to Sen. Richard Durbin, D-Ill., the author of the Durbin amendment, the “Durbin Dollar” that features the senator’s picture, has a $5 face value, representing the typical monthly fee banks charge for checking accounts, noting the end of free debit cards and free checking that most consumers enjoyed before Dodd-Frank.
“Just as bad money drives out good money, our Durbin Dollars show that bad policies drive out good products, such as free debit cards and free checking,” said Sam Kazman, general counsel at the Competitive Enterprise Institute.
Read the full article at Las Vegas Sun.