Competition Quote by Dick Durbin

Swipe fees have increased steadily since the introduction of debit cards 20 years ago, when there were no swipe fees at all. Merchants can't…

— Peter Welch

Last year, Congress passed a law that directs the Federal Reserve to set limits on debit card swipe fees that are reasonable and proportional…

— Peter Welch

American businesses and consumers deserve a debit card system with competition, transparency, and reasonable fees.

— Dick Durbin

There are clearly some policies that need to change, and the reputation of the credit card industry is not high. Reforms need to take…

— Kenneth Chenault

Consumers could be in for an even sweeter deal, either getting discounts from retailers for using the PIN debit cards or being rewarded by…

— David Robertson

We stiffened the penalties for fraud, we extended nationwide efforts to make sure that payments are accurate and they closed a loophole in which…

— Kevin Drum

“The Congressmen and Senators themselves had seen to it that bribery was the only way of doing business with them. Frequently they would introduce…

— Hugh Brogan

“This was classic regulatory arbitrage. Bank managers were not unaware of the risks they courted. Wall Street has simply never kowtowed to regulations that…

— Danielle DiMartino Booth

Banks are slowly but surely lending again, and never again will taxpayers foot the bill for Wall Street's excesses. In case we forgot, that…

— Rahm Emanuel

You read constantly that banks are lobbying regulators and elected officials as if this is inappropriate. We don't look at it that way.

— Jamie Dimon

Pay cash. For some reason, it's harder for people psychologically to part with their cash than it is to swipe a card. Maybe it's…

— Jean Chatzky

'Excessive regulation in the banking reform bill will destroy a substantial part of our bond-distributing machinery. Can anyone expect that a step of this…

— Barry Ritholtz