Seventeen senators, led by Sen. Jon Tester, D-Mont., have sponsored a bill, that could come to the Senate floor as early as this week, to delay the new rule by two years and require a one-year study. Tester, who serves on the Senate banking committee, counts the political action committees and employees of Wall Street firms among his top campaign contributors, according to a tally by the non-partisan Center for Responsive Politics. A House bill, co-authored by Rep. Shelley Moore Capito, R-W.Va., and Debbie Wasserman Schultz, D-Fla., calls for a one-year delay.
http://www.usatoday.com/money/perfi/credit/2011-03-31-swipe-fees-lobbying.htm(The bill, H.R. 1081, now has 71 cosponsors.)
The bill (from thomas.loc.gov):
H.R.1081 -- Consumers Payment System Protection Act (Introduced in House - IH)
112th CONGRESS
1st Session
H. R. 1081
To delay the implementation of proposed or final rules issued under the authority of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to the reasonable and proportional fees and rules for electronic debit transactions, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
March 15, 2011
Mrs. CAPITO (for herself, Ms. WASSERMAN SCHULTZ, Mr. LUETKEMEYER, Mr. RENACCI, Mr. PERLMUTTER, Mr. HENSARLING, Mr. ROYCE, Mr. CANSECO, Mr. NEUGEBAUER, Mrs. BACHMANN, Mr. MEEKS, Mr. MCCLINTOCK, Mr. CARNEY, Mr. GIBBS, Mr. PETERS, Mr. HERGER, Mr. MARCHANT, Mr. KELLY, Mr. BARTLETT, Mr. CHAFFETZ, Mr. KISSELL, Mr. GARY G. MILLER of California, Mr. KILDEE, Mrs. MCCARTHY of New York, Mr. POLIS, Mr. CONNOLLY of Virginia, Mr. OWENS, and Ms. WOOLSEY) introduced the following bill; which was referred to the Committee on Financial Services
A BILL
To delay the implementation of proposed or final rules issued under the authority of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to the reasonable and proportional fees and rules for electronic debit transactions, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the `Consumers Payment System Protection Act'.
SEC. 2. DELAY IN THE APPLICATION OF RULES ISSUED UNDER THE AUTHORITY OF SECTION 1075 OF THE DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT.
Subject to section 3(b)(2), any proposed or final rule issued under the authority of any provision under section 1075 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203), or of amendments made by such section, shall take effect 1 year after the date of the enactment of this Act.
SEC. 3. STUDY AND REPORT.
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