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 DurbinRichard (Dick) Joseph DurbinSenate Democrats to House: Tamp down the impeachment talk Threat of impeachment takes oxygen out of 2019 agenda Senate Democrats request watchdog, Red Cross probe DHS detention facilities 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.

ADVERTISEMENT

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 Francis WelchPelosi, Nadler tangle on impeachment, contempt vote Democrats talk subpoena for Mueller Bernie Sanders is hypocritical on most significant campaign issues 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 Sieben BaucusOvernight Defense: McCain honored in Capitol ceremony | Mattis extends border deployment | Trump to embark on four-country trip after midterms Congress gives McCain the highest honor Judge boots Green Party from Montana ballot in boost to Tester MORE (Mont.), Evan Bayh (Ind.), Tom CarperThomas (Tom) Richard CarperOvernight Energy: Democrats push EPA to collect 4K in 'excessive' Pruitt travel expenses | Greens angered over new rules for rocket fuel chemical | Inslee to join youth climate strikers in Las Vegas Democrats push EPA to collect 4K from Pruitt for 'excessive airfare expenses' Overnight Energy: Democrats ask if EPA chief misled on vehicle emissions | Dem senators want NBC debate focused on climate change | 2020 hopeful John Delaney unveils T climate plan MORE (Del.), Tim JohnsonTimothy (Tim) Peter JohnsonSeveral hurt when truck runs into minimum wage protesters in Michigan Senate GOP rejects Trump’s call to go big on gun legislation Court ruling could be game changer for Dems in Nevada MORE (S.D.), Ted Kaufman (Del.), Claire McCaskillClaire Conner McCaskillCongress needs to work to combat the poverty, abuse and neglect issues that children face Lobbying world Big Dem names show little interest in Senate MORE (Mo.), Jon TesterJonathan (Jon) TesterSenate Democrats to House: Tamp down the impeachment talk Threat of impeachment takes oxygen out of 2019 agenda Overnight Defense: Trump officials say efforts to deter Iran are working | Trump taps new Air Force secretary | House panel passes defense bill that limits border wall funds MORE (Mont.) and Mark WarnerMark Robert WarnerTrump declassification move unnerves Democrats Hillicon Valley: Assange hit with 17 more charges | Facebook removes record 2.2B fake profiles | Senate passes anti-robocall bill | Senators offer bill to help companies remove Huawei equipment Senators offer bipartisan bill to help US firms remove Huawei equipment from networks 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 Mauze BurrFive takeaways from Barr's new powers in 'spying' probe The Hill's Morning Report — After contentious week, Trump heads for Japan Trump Jr. slams Republican committee chairman: 'Too weak to stand up to the Democrats' MORE (N.C.), Saxby ChamblissClarence (Saxby) Saxby ChamblissRepublicans say Democrats holding up disaster relief as 'Sandy payback' Ex-House Intel chair: Intel panel is wrong forum to investigate Trump's finances The Hill's Morning Report - Trump budget reignites border security fight MORE (Ga.), Susan CollinsSusan Margaret CollinsThe Hill's Morning Report - Trump says no legislation until Dems end probes Collins offering bill to boost battery research as GOP pushes energy 'innovation' Biden says Congress must move to protect abortion rights MORE (Maine), Mike CrapoMichael (Mike) Dean CrapoOn The Money: Senate passes disaster aid bill after deal with Trump | Trump to offer B aid package for farmers | House votes to boost retirement savings | Study says new tariffs to double costs for consumers Senate passes disaster aid bill after deal with Trump Trump, Senate GOP discuss effort to overhaul legal immigration MORE (Idaho), John Ensign (Nev.), Mike EnziMichael (Mike) Bradley EnziKudos to the legislators trying to fix our broken budget On The Money: Mnuchin signals officials won't release Trump tax returns | Trump to hold off on auto tariffs | WH nears deal with Mexico, Canada on metal tariffs | GOP fears trade war fallout for farmers | Warren, regulator spar over Wells Fargo Budget chairs pick former Bush official to head CBO MORE (Wyo.), Lindsey GrahamLindsey Olin GrahamTrump declassification move unnerves Democrats Climate change is a GOP issue, too New Yorker cover titled 'The Shining' shows Graham, McConnell, Barr polishing Trump's shoes MORE (S.C.), Charles GrassleyCharles (Chuck) Ernest GrassleyTrump Citizenship and Immigration Services head out at agency Trump-Pelosi fight threatens drug pricing talks Overnight Health Care — Presented by PCMA — Senators unveil sweeping bipartisan health care package | House lawmakers float Medicare pricing reforms | Dems offer bill to guarantee abortion access MORE (Iowa), Johnny IsaksonJohn (Johnny) Hardy IsaksonSenate passes disaster aid bill after deal with Trump GOP senators work to get Trump on board with new disaster aid package Senators say they've reached deal on Puerto Rico aid MORE (Ga.), George LeMieux (Fla.), Richard Lugar (Ind.), Jim RischJames (Jim) Elroy RischOvernight Defense: 1,500 troops heading to Mideast to counter Iran | Trump cites Iran tensions to push through Saudi arms sale | Senate confirms Army, Navy chiefs before weeklong recess Senators say Trump using loophole to push through Saudi arms sale On The Money: Senate passes disaster aid bill after deal with Trump | Trump to offer B aid package for farmers | House votes to boost retirement savings | Study says new tariffs to double costs for consumers MORE (Idaho), Olympia Snowe (Maine), David VitterDavid Bruce VitterSenate confirms Trump judge who faced scrutiny over abortion views Collins votes against Trump judicial pick Progressive group targets Susan Collins over Trump judicial pick MORE (La.) and Roger WickerRoger Frederick WickerData privacy: Consumers want it, businesses need it — it's time our government delivers it Hillicon Valley: Assange hit with 17 more charges | Facebook removes record 2.2B fake profiles | Senate passes anti-robocall bill | Senators offer bill to help companies remove Huawei equipment Congress reaches deal on disaster aid MORE (Miss.).

Sens. Robert Byrd (D-WVa.), Kay Bailey Hutchison (R-Texas) and Bill NelsonClarence (Bill) William NelsonRepublicans amp up attacks on Tlaib's Holocaust comments The muscle for digital payment Rubio says hackers penetrated Florida elections systems MORE (D-Fla.) did not vote.

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