Posted May 18, 2017May 16, 2017 – Rep. Ted Budd (R-NC) is gathering signatures for a letter to House GOP leaders that would urge them to let Members vote on whether to repeal the debit card fee cap known as the Durbin Amendment. Language to repeal the rule is part of the Financial CHOICE Act, a bill sponsored by House Financial Services Chairman Jeb Hensarling (R-TX) that would overhaul financial regulation and undo key parts of the Dodd-Frank law.
The CHOICE Act is currently scheduled to be considered on the floor of the House after the Memorial Day recess – a delay from the original schedule. There are efforts by Leadership to remove the language via a procedural motion in the Rules Committee – prior to the bill reaching the floor. This would alleviate a potentially divisive issue diverting support for CHOICE Act passage.
Rep. Budd’s letter asks leadership to allow a vote in the House and to move the bill in regular order.