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.
Rep. Elijah Cummings, D-Md., right, hugs Harold Schaitberger, General President of the International Association of Fire Fighters, after the Congressman spoke at the IAFF's Legislative Conference General Session at the Hyatt Regency on Capitol Hill, March 9, 2015. The day featured addresses by members of Congress and Vice President Joe Biden.