For Immediate Release
June 14, 2016
ABA Media Contact: Jeff Sigmund
(202) 663-5439
Email: jsigmund@aba.com
Follow us on Twitter: @ABABankers

ABA Supports Bill to Repeal Durbin Amendment (H.R. 5465)

By Rob Nichols, ABA president and CEO

​“ABA strongly supports H.R. 5465, which would repeal the failed government price control experiment known as the ‘Durbin Amendment.' We commend Chairman Neugebauer for introducing legislation to stop this special interest charade. 
 
“When the government picks winners and losers in the marketplace, consumers lose.  The Durbin Amendment has distorted the market to the detriment of small businesses, consumers and banks of all sizes.
 
“Retailers would rightfully oppose laws setting the price of milk or paintbrushes in their stores.  After a half decade of trial and failure, we hope Congress will allow this divisive and outdated retailer giveaway to fade into the rearview mirror.”     
 
 
The American Bankers Association is the voice of the nation’s $16 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $12 trillion in deposits and extend more than $8 trillion in loans.
 
 
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