the Durbin Amendment will allow merchants to give their customers discounts when they use cards from a network with lower fees.

The Durbin amendment's provisions on anticompetitive practices aim a rifle shot right at these problems and will let sunlight into what has been a dark room.

Thanks a lot, Mr. Grippo.

The amendment proposed by Senator Durbin addresses certain direct costs for payment card acceptance.

The Durbin interchange amendment to the Restoring American Financial Stability Act takes important steps to end unfair and anti-competitive practices in the credit and debit card marketplace.

Chairman Durbin, Ranking Member Collins, and Members of the Subcommittee on Financial Services and General Government, thank you for inviting me to share my views on interchange fees.

I thank you for and wholly support the amendment that you made to the financial reform bill that was passed by the Senate last month.

There is no question that this alone will help retailers in the convenience store industry to survive because it will lower the cost for which they can deliver retail to the consumer.

These will get back--these do go back to the customer.

The Senate paid attention to this outpouring of support when it passed Senator Durbin's Amendment to the financial reform bill with a bipartisan vote of 64-33.

We were talking about those who use credit cards to pay Government expenses as opposed to those cards issued by Government agencies.

The Durbin Amendment does not change the credit card companies' rules that allow them to push most of the fraud risk onto merchants.

As the Durbin amendment recognizes, Visa and MasterCard rules prevent merchants from disclosing fees to their customers.

I have asked Senator Nelson if I could ask a couple questions before I give the floor to him.

I sponsored an amendment in the Senate that would require debit interchange fees to be set at a reasonable level.

Did you know that, Ms. Chronister?

the Durbin Amendment will give the Federal Reserve the power to write rules ensuring that swipe fees on debit cards are 'reasonable and proportional' to the cost of processing.

That is what this Government is supposed to be about.

the Durbin Amendment will allow merchants to set a minimum or maximum amount for a transaction using a credit card.

Well, thanks. We are going to have some questions, but it is going to be a little while.

Ultimately consumers will benefit tremendously from your leadership.

the complexity of categories, and the multiple fee levels within those categories, frequently serves to 'downgrade' transactions into higher rates

I support your views, as in your colloquy with Senator Nelson, that there should be a carve-out for EBT programs.

The Amendment proposed by Senator Durbin incorporates language that addresses certain direct costs for payment card acceptance.

It appears that our failure to assume a power or responsibility when it comes to these fees ties our hands with these two giants, Visa and MasterCard.