Senate Introduces Interchange Bill

U.S. Sen. Richard Durbin, D-Ill., yesterday introduced the Senate's version of the Credit Card Fair Fee Act of 2009 (S. 1212), a bill that would allow retailers to negotiate collectively with credit-card companies and banks to set interchange fees.

WASHINGTON — U.S. Sen. Richard Durbin, D-Ill., yesterday introduced the Senate's version of the Credit Card Fair Fee Act of 2009 (S. 1212), a bill that would allow retailers to negotiate collectively with credit-card companies and banks to set interchange fees.

The bill is similar to a House measure with the same name (H.R. 2695) introduced last week, according to Food Marketing Institute, Arlington, Va., which is a member of the Merchants Payment Coalition, a network supportin

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