With competition on the rise and consumers from coast to coast reaping the benefits, the Durbin amendment is a working example of why we need regulation when markets don’t work effectively. Let’s all wish the amendment a happy first anniversary as we pull out our debit cards and enjoy the savings the bill is affording us.
David Balto is a former policy director at the Federal Trade Commission.
Sen. Jeff Flake, R-Ariz., takes a selfie with his cut-out head during the Hoops for Youth 16th annual charity basketball game held at George Washington University's Smith Center, September 8, 2014. The members of Congress team beat the lobbyist team 46-40. Buy photo here.