Durbin wins battle to pass 'interchange fee' legislation, 64-33

The Senate on Thursday passed controversial legislation clamping down on fees that card issuers charge merchants, handing Senate Majority Whip Dick DurbinDick DurbinGraham gets frustrated in public ‘unmasking’ debate Senate Dems set principles for potential budget negotiation Dem senator: GOP's healthcare approach will 'devastate Medicaid' MORE (D-Ill.) a major victory.

As part of debate on Wall Street overhaul, the Senate passed, 64-33, legislation championed by Durbin that drew significant Republican support. Ten Democrats opposed the legislation, while 17 Republicans crossed the aisle to support a bill that aims to rein in fees placed on debit cards.

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Durbin earlier on Thursday railed on the bank lobby for opposing the legislation. The Independent Community Bankers of America, Credit Union National Association and National Association of Federal Credit Unions (NAFCU) loudly opposed Durbin's measure.

"It is a shame that their attempt at getting back at big banks and large credit card companies has spilled over to credit unions and community banks," said Dan Berger, executive vice president at NAFCU. "This will do nothing for consumers but go straight to the bottom line of the big box stores and giant retailers."

Durbin overcame the lobbying to pass legislation that requires the Federal Reserve to issue rules on swipe fees for debit cards to ensure fees are "responsible and proportional" to processing costs. The legislation does not ban swipe card fees. Durbin had won strong backing from merchant and retail groups. Durbin said the restrictions would not apply to banks and credit unions with $10 billion or less in assets.

"It wasn't introduced as a partisan amendment," Durbin said Thursday before the vote. "I brought this because it is a small business, retail amendment that I think is valid and just."

Rep. Peter WelchPeter WelchA bipartisan consensus against 'big pharma' is growing in Congress Dems push leaders to talk less about Russia House Dems slam Trump's 'betrayal' on drug pricing MORE (D-Vt.), who is a strong supporter of efforts to rein in card fees, praised the Senate vote.

"This momentous, overwhelming vote sends an unambiguous message to credit card companies that the American people have had enough of swipe fees and have had enough of cash register rip-offs," Welch said.

Senate Democrats opposing the amendment were: Daniel Akaka (Hawaii), Max BaucusMax BaucusLawmakers: Leave advertising tax break alone GOP: FBI firing won't slow agenda White House tax-reform push is ‘game changer,’ says ex-chairman MORE (Mont.), Evan Bayh (Ind.), Tom CarperTom CarperOvernight Energy: Trump White House kicks off 'Energy Week' Senate confirms NRC chairwoman to new term Dems push for more action on power grid cybersecurity MORE (Del.), Tim JohnsonTim JohnsonCourt ruling could be game changer for Dems in Nevada Bank lobbyists counting down to Shelby’s exit Former GOP senator endorses Clinton after Orlando shooting MORE (S.D.), Ted Kaufman (Del.), Claire McCaskillClaire McCaskillMcCaskill attended reception at Russian ambassador's residence in 2015 Senators question need for HHS cyber office Overnight Cybersecurity: Obama DHS chief defends Russian hack response | Trump huddles on grid security | Lawmakers warned about cyber threat to election systems MORE (Mo.), Jon TesterJon TesterOvernight Regulation: Labor groups fear rollback of Obama worker protection rule | Trump regs czar advances in Senate | New FCC enforcement chief Trump's 'regulatory czar' advances in Senate Gianforte causes stir after becoming newest House member MORE (Mont.) and Mark WarnerMark WarnerOvernight Finance: GOP divided over welfare cuts in budget | Lawmaker loses M on pharma stock he pitched | Yellen says another financial crisis unlikely in our lifetimes Overnight Cybersecurity: Obama faces new scrutiny for Russia response | UK parliament cyberattacked | Election hacking fears put heat on DHS | Feds appeal to Supreme Court over data warrants Election hacking fears turn heat on Homeland Security MORE (Va.). Sen. Joe Lieberman (I-Conn.) also opposed the legislation.

Senate Republicans supporting Durbin's bill were: John Barasso (Wyo.), Scott Brown (Mass.), Richard BurrRichard BurrAn unlikely home in DC Senate intel panel to hold hearing on Russian meddling in Europe The Hill's Whip List: GOP undecided, 'no' votes pile up on ObamaCare repeal bill MORE (N.C.), Saxby ChamblissSaxby ChamblissFormer GOP senator: Let Dems engage on healthcare bill OPINION: Left-wing politics will be the demise of the Democratic Party GOP hopefuls crowd Georgia special race MORE (Ga.), Susan CollinsSusan CollinsOvernight Finance: GOP divided over welfare cuts in budget | Lawmaker loses M on pharma stock he pitched | Yellen says another financial crisis unlikely in our lifetimes Overnight Tech: EU hits Google with record fine | Amazon gears up for lobbying battle | Facebook hits 2 billion users | New ransomware spreads across globe Overnight Regulation: EPA moves to repeal Obama water rule | Labor chief to review overtime rule | Record fine for Google MORE (Maine), Mike CrapoMike CrapoOvernight Regulation: Senate Banking panel huddles with regulators on bank relief | FCC proposes 2M fine on robocaller | Yellowstone grizzly loses endangered protection Overnight Finance: Big US banks pass Fed stress tests | Senate bill repeals most ObamaCare taxes | Senate expected to pass Russian sanctions bill for second time All big US banks pass Dodd-Frank stress tests MORE (Idaho), John Ensign (Nev.), Mike EnziMike EnziGOP chairman wants 'robust' tax reform process in the Senate Congress needs to support the COINS Act The Hill's Whip List: GOP undecided, 'no' votes pile up on ObamaCare repeal bill MORE (Wyo.), Lindsey GrahamLindsey GrahamOvernight Cybersecurity: New ransomware attack spreads globally | US pharma giant hit | House intel panel interviews Podesta | US, Kenya deepen cyber partnership Graham gets frustrated in public ‘unmasking’ debate GOP senator: Don't expect Trump to 'have your back' on healthcare vote MORE (S.C.), Charles GrassleyChuck GrassleyOvernight Cybersecurity: New ransomware attack spreads globally | US pharma giant hit | House intel panel interviews Podesta | US, Kenya deepen cyber partnership GOP chairman wants 'robust' tax reform process in the Senate Senate Dems plan floor protest ahead of ObamaCare repeal vote MORE (Iowa), Johnny IsaksonJohnny IsaksonThe Hill's Whip List: GOP undecided, 'no' votes pile up on ObamaCare repeal bill Georgia special election runoff: live coverage House approves VA bill, sending it to Trump MORE (Ga.), George LeMieux (Fla.), Richard Lugar (Ind.), Jim RischJim RischBipartisan push to prioritize cyber advice for small businesses Five questions after Comey’s testimony Comey delivers dramatic rebuke of Trump MORE (Idaho), Olympia Snowe (Maine), David VitterDavid VitterOvernight Energy: Trump set to propose sharp cuts to EPA, energy spending Former La. official tapped as lead offshore drilling regulator Former senator who crafted chemicals law to lobby for chemicals industry MORE (La.) and Roger WickerRoger WickerOvernight Defense: GOP chairman moves ahead with 0B defense bill | Lawmakers eye 355 ship navy | Senate panel seeks answers on shoot down of Syrian jet The Hill's Whip List: GOP undecided, 'no' votes pile up on ObamaCare repeal bill Lawmakers unveil bill to set 355-ship Navy MORE (Miss.).

Sens. Robert Byrd (D-WVa.), Kay Bailey Hutchison (R-Texas) and Bill NelsonBill NelsonWeek ahead in tech: Lawmakers turn focus to self-driving cars Senate panel unveils aviation bill with consumer protections, drone fix Driverless cars speed onto political agenda MORE (D-Fla.) did not vote.

"This amendment helps big merchants, but consumers will pay the price," MasterCard said in a statement.