Senate Majority Whip Dick DurbinRichard (Dick) Joseph DurbinTrump has exposed Democratic hypocrisy on prison reform House easily passes prison reform bill backed by Trump This week: House GOP regroups after farm bill failure MORE (D-Ill.) took to the Senate floor Thursday to respond to a Wall Street Journal editorial, published the same day, that attacked Durbin’s plan to set swipe fees on debit card transactions as unnecessary government interference in business.

“There is no free-market system when it comes to interchange fees imposed by these duopolies, Visa and MasterCard,” Durbin said. “You would think that even the Wall Street Journal, this bastion of conservatism and defender of the free market, would acknowledge the obvious.”

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Durbin was referring to the interchange fee amendment legislation he sponsored that passed as part of the Dodd-Frank financial regulatory reform bill last year. The law would fix the swipe fee imposed by banks and credit card companies on businesses at a number set by the Federal Reserve.

The rule has not yet been implemented, but a preliminary study from the Fed indicated that the price would be moved from around 40 cents to 12 cents per transaction.

The Journal piece, titled “Debit Card Debacle,” called Durbin’s law “another mess to clean up from the 111th Congress.”

“The loss of that revenue will force debit card issuers to raise fees elsewhere to compensate,” the editorial said.

The editorial appeared in the wake of an effort launched Tuesday by a bipartisan coalition of senators that would prevent Durbin’s law from being immediately enacted.

The Debit Interchange Fee Study Act would suspend implementation of the proposed rule for two years and calls for a one-year study of debit interchange fees.

“The federal government shouldn’t be telling private companies what they can charge for goods and services; that’s price fixing, and that’s exactly what the Durbin amendment does,” said Sen. Bob CorkerRobert (Bob) Phillips CorkerHillicon Valley: Experts worry North Korea will retaliate with hacks over summit | FBI works to disrupt Russian botnet | Trump officials look to quell anger over ZTE | Obama makes case for tighter regs on tech Senate GOP sounds alarm over Trump's floated auto tariffs Biden, Corker honored with Freedom House human rights awards MORE (R-Tenn.), a member of the Senate Banking Committee. “The hastily passed Durbin amendment will have numerous unintended consequences for debit card users.”

The legislation, S. 575, is sponsored by Sens. Corker, Jon TesterJonathan (Jon) TesterPro-Trump super PAC raises .5 million in 6 weeks Overnight Finance: Trump signs Dodd-Frank rollback | Snubs key Dems at ceremony | Senate confirms banking regulator | Lawmakers lash out on Trump auto tariffs Trump signs Dodd-Frank rollback MORE (D-Mt.), Jon Kyl (R-Ariz.), Ben Nelson (D-Neb.), Tom CarperThomas (Tom) Richard CarperSenate Dems to Mnuchin: Don't index capital gains to inflation Overnight Energy: Reporters barred from Day 2 of EPA summit | Dems blame Trump for gas price increases | Massachusetts to get new offshore wind farm Dems question whether administration broke law with citizenship question on census MORE (D-Del.), Pat RobertsCharles (Pat) Patrick RobertsRepublicans think Trump is losing trade war Senate GOP urges Trump administration to work closely with Congress on NAFTA This week: House GOP regroups after farm bill failure MORE (R-Kansas), Chris CoonsChristopher (Chris) Andrew CoonsOvernight Finance: House sends Dodd-Frank rollbacks to Trump | What's in the bill | Trump says there is 'no deal' to help ZTE | Panel approves bill to toughen foreign investment reviews Congress, Trump eye new agency to invest in projects overseas On World Press Freedom Day, elected officials must commit to keeping press freedom nonpartisan MORE (D-Del.), Mike LeeMichael (Mike) Shumway LeeTrump has exposed Democratic hypocrisy on prison reform Denial of services to same-sex couples can harm their health GOP Senate primary heats up in Montana MORE (R-Utah), and Pat Toomey (R-Pa.).

“Mr. Durbin pitched his bill as pro-consumer but it was really an attempt to rob banks and debit-card issuers in order to pay off his campaign check writers in the retail industry,” the editorial said. “As usual, the little guy is getting trampled.”

Durbin shot back that the Journal is the one that doesn't care about the little guy.

“I don't know if the Wall Street Journal would be viewed by any as a great pro-consumer magazine,” said Durbin. “How often would you turn to the Wall Street Journal to find out who is going to stand up for the little guy in America? Almost never.”