CBA's Hunt welcomes Rep. Frank's support to delay debit fee rules

04/5/2011 | AutomatedTrader.net

Rep. Barney Frank, D-Mass., supports the majority of the Dodd-Frank Act, but has announced that the controversial rule pertaining to interchange fees should be revisited. "The Federal Reserve's announcement that they cannot meet the deadline on interchange fees confirms my view that this is the only part of the financial reform bill that needs to be amended," Frank said. "For this reason, I support legislative action to postpone the deadline so that we can revisit it." CBA President Richard Hunt welcomed Frank's stance. "It is encouraging to see bipartisan support for a delay," Hunt said. Read Hunt's full statement.

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