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CBA Commends Chairman Neugebauer for Introducing Durbin Amendment Repeal Bill
Washington, D.C. (June 14, 2016) – Richard Hunt, President and CEO of the Consumer Bankers Association (CBA), today released the following statement in response to Chairman Randy Neugebauer’s (R-Texas) introduction of a bill to repeal the Durbin Amendment, H.R. 5465.
“Not only have consumers failed to see the savings promised to them by merchants but also they lost out on many affordable banking products and services as a result of the government mandated price control, known as the Durbin Amendment. Ironically, this call for market intervention came from some of the same merchants who have since demanded the government stay out of business decisions on soft drink sizes and menu offerings. We commend Chairman Neugebauer for advancing repeal efforts and look forward to this legislation swiftly moving through the House and Senate,” said CBA’s President and CEO Richard Hunt.
The Consumer Bankers Association (CBA) is the trade association for today's leaders in retail banking - banking services geared toward consumers and small businesses. The nation's largest financial institutions, as well as many regional banks, are CBA corporate members, collectively holding two-thirds of the industry's total assets. CBA’s mission is to preserve and promote the retail banking industry as it strives to fulfill the financial needs of the American consumer and small business.
The Consumer Bankers Association is the recognized voice on retail banking issues in the nation’s capital. Founded in 1919, CBA provides leadership, education, research and federal representation on retail banking issues. For more information, please contact Maggie Seidel, firstname.lastname@example.org, (571) 447-0197 or visit www.consumerbankers.com.