Coalition Letter Against Durbin Interchange Fee Price Control Amendment to Financial Reform Bill
As leaders of groups representing millions of Americans that comprise a Center-Right Coalition, we oppose price controls in any sector of the economy. We also abhor corporate welfare - whether through direct taxpayer subsidies or through regulations that allow some businesses to push their costs onto other businesses and consumers. We, the undersigned organizations, on behalf of millions of American taxpayers, consumers and business owners believe it is not the role or responsibility of the government to intervene in what should be a private contractual relationship between retailers and payment card issuers. Therefore, we urge you to remove Sen. Durbin's "interchange fee" amendment contained in the Senate-passed "Restoring American Financial Stability Act" during negotiation on the final bill.