S.575 - Debit Interchange Fee Study Act of 2011

A bill to study the market and appropriate regulatory structure for electronic debit card transactions, and for other purposes. view all titles (2)

All Bill Titles

  • Official: A bill to study the market and appropriate regulatory structure for electronic debit card transactions, and for other purposes. as introduced.
  • Short: Debit Interchange Fee Study Act of 2011 as introduced.

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  • Today: 2
  • Past Seven Days: 7
  • All-Time: 6,317
 
Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
03/15/11
 
 
 
 
 
 
 

Sponsor

Senator

Jon Tester

D-MT

View Co-Sponsors (16)

Official Summary

Debit Interchange Fee Study Act of 2011 - Amends the Electronic Fund Transfer Act to extend from 9 months after the date of enactment of the Consumer Financial Protection Act of 2010 to 24 months after the date of enactment of this Act the rulemaking timelines and effective dates for the pr

Official Summary

Debit Interchange Fee Study Act of 2011 - Amends the Electronic Fund Transfer Act to extend from 9 months after the date of enactment of the Consumer Financial Protection Act of 2010 to 24 months after the date of enactment of this Act the rulemaking timelines and effective dates for the proposed debit interchange (swipe) rule of the Board of Governors of the Federal Reserve System (Board) that is required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. Declares void and without legal effect any regulation proposed or prescribed by the Board pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act before the date that is 6 months after completion of the study required by this Act. Directs specified banking regulatory agencies (study agencies) to study jointly and report to certain congressional committees regarding the impact of regulating debit interchange transaction (swipe) fees and related issues under the Electronic Fund Transfer Act. Prescribes study contents including the costs and benefits of electronic debit card transactions (EDTs) and alternative forms of payment, including cash, check, and automated clearing house (ACH) for consumers, merchants, issuers, and debit card networks.

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Organizations Supporting S.575

  • Electronic Payments Coalition
  • National Taxpayers Union
  • Competitive Enterprise Institute
  • Less Government
  • 60 Plus Association
  • Small Business and Entrepreneurship Council
  • ...and 21 more. See all.

Organizations Opposing S.575

  • National Assocation of College Stores
  • OMEGA- West Virginia Oil Marketers & Grocer's Association
  • American Booksellers Association
  • Entertainment Merchants Association
  • American Apparel and Footwear Association
  • American Association of Motor Vehicle Administrators
  • ...and 58 more. See all.


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