Contact FreedomWorks

400 North Capitol Street, NW
Suite 765
Washington, DC 20001

  • Toll Free 1.888.564.6273
  • Local 202.783.3870
Retailers Seek a Wealth Transfer From the Banks

On Friday, March 21, the United States Court of Appeals for the District of Columbia handed retailers a considerable setback in their ongoing war against banks over price controls on interchange fees-the fees charged to retailers when they accept debit cards as payment. The court's decision is the latest salvo in the wake of the Durbin Amendment, which was hurriedly and quietly added to the Dodd-Frank financial services reform legislation of 2010. The amendment mandated that the Federal Reserve Board establish price caps for debit card interchange fees. Retailers claimed the caps were necessary to protect consumers, but the reality of the Durbin Amendment has been a direct transfer of resources from banks to retailers, with consumers facing higher costs as collateral damage.

http://d7.freedomworks.org.s3.amazonaws.com/styles/thumbnail/s3/field/image/111003_dick_durbin_ap_328.jpg?itok=TZGkTxxR
Op-ed Placement

Retailers Seek a Wealth Transfer From the Banks

On Friday, March 21, the United States Court of Appeals for the District of Columbia handed retailers a considerable setback in their ongoing war against banks over price controls on interchange fees-the fees charged to retailers when they accept debit cards as payment. The court's decision is the latest salvo in the wake of the Durbin Amendment, which was hurriedly and quietly added to the Dodd-Frank financial services reform legislation of 2010. The amendment mandated that the Federal Reserve Board establish price caps for debit card interchange fees. Retailers claimed the caps were necessary to protect consumers, but the reality of the Durbin Amendment has been a direct transfer of resources from banks to retailers, with consumers facing higher costs as collateral damage.

03/25/2014
Tell Your Representative to Support the New Fair Deal Banking and Housing Stability Act, H.R. 3550

As one of our millions of FreedomWorks members nationwide, I urge you to contact your Representative today and urge him or her to support H.R. 3550, the “New Fair Deal Banking and Housing Stability Act of 2013,” and to co-sponsor the bill if he or she has not already done so.

http://d7.freedomworks.org.s3.amazonaws.com/styles/thumbnail/s3/te_social_media_share/fw_default_0.jpg?itok=mX_C44GW
Blog

Tell Your Representative to Support the New Fair Deal Banking and Housing Stability Act, H.R. 3550

As one of our millions of FreedomWorks members nationwide, I urge you to contact your Representative today and urge him or her to support H.R. 3550, the “New Fair Deal Banking and Housing Stability Act of 2013,” and to co-sponsor the bill if he or she has not already done so.

01/07/2014
The Dodd-Frank Disaster

July 21 marked the anniversary of the passing of the Dodd Frank Wall Street Reform and Consumer Protection act. Unfortunately the law has neither reformed Wall Street nor Protected Consumers.  The 3,200 page law has spawned several new regulatory bodies, and has granted 11 separate federal agencies the authority and the legal obligation to create over 400 new financial regulations.

http://d7.freedomworks.org.s3.amazonaws.com/styles/thumbnail/s3/te_social_media_share/fw_default_0.jpg?itok=mX_C44GW
Blog

The Dodd-Frank Disaster

July 21 marked the anniversary of the passing of the Dodd Frank Wall Street Reform and Consumer Protection act. Unfortunately the law has neither reformed Wall Street nor Protected Consumers.  The 3,200 page law has spawned several new regulatory bodies, and has granted 11 separate federal agencies the authority and the legal obligation to create over 400 new financial regulations.

08/04/2011
Overregulation, Bureaucracy, and Crony Capitalism

It has been just over a year since Congress and President Obama passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. The massive piece of legislation was intended promote financial stability and prevent another major Wall Street collapse. One year later, most of the rules and regulations required by the law have yet to go into effect.

http://d7.freedomworks.org.s3.amazonaws.com/styles/thumbnail/s3/te_social_media_share/fw_default_0.jpg?itok=mX_C44GW
Capitol Comment

Overregulation, Bureaucracy, and Crony Capitalism

It has been just over a year since Congress and President Obama passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. The massive piece of legislation was intended promote financial stability and prevent another major Wall Street collapse. One year later, most of the rules and regulations required by the law have yet to go into effect.

08/04/2011
Repeal it: Dodd-Frank Entrenches Crony Capitalism

The Dodd-Frank financial overhaul law—also known as the “Federal Reserve Empowerment Law"—recently marked its first anniversary. Last summer, we fought this unconstitutional power grab tooth and nail. The lead sponsors of the bill Rep. Frank (D-Mass.) and former Sen.

http://d7.freedomworks.org.s3.amazonaws.com/styles/thumbnail/s3/te_social_media_share/fw_default_0.jpg?itok=mX_C44GW
Blog

Repeal it: Dodd-Frank Entrenches Crony Capitalism

The Dodd-Frank financial overhaul law—also known as the “Federal Reserve Empowerment Law"—recently marked its first anniversary. Last summer, we fought this unconstitutional power grab tooth and nail. The lead sponsors of the bill Rep. Frank (D-Mass.) and former Sen.

08/02/2011
New Debit Card Regulation is Coming

On June 8, S 575, an amendment which would have delayed price controls on debit card interchange fees by two years, failed to pass the Senate.  Interchange fees are small fees that retailers pay to debit card providers every time a card is swiped in their store. These fees compensate debit card providers for the use of their services.

http://d7.freedomworks.org.s3.amazonaws.com/styles/thumbnail/s3/te_social_media_share/fw_default_0.jpg?itok=mX_C44GW
Blog

New Debit Card Regulation is Coming

On June 8, S 575, an amendment which would have delayed price controls on debit card interchange fees by two years, failed to pass the Senate.  Interchange fees are small fees that retailers pay to debit card providers every time a card is swiped in their store. These fees compensate debit card providers for the use of their services.

06/15/2011
Key Vote "No" H.R. 4173: Dodd-Frank Wall Street Reform and Consumer Protection Act

Dear Senator:                                                       

http://d7.freedomworks.org.s3.amazonaws.com/styles/thumbnail/s3/te_social_media_share/fw_default_0.jpg?itok=mX_C44GW
Press Release

Key Vote "No" H.R. 4173: Dodd-Frank Wall Street Reform and Consumer Protection Act

Dear Senator:                                                       

07/14/2010