Documenting legislative intentions through resolutions, is one way that some state legislators still see value in poking at windmills. As a big election year draws near, it might not hurt to have some of these resolutions on one’s resume like the one described here:
“Among them, members of the Communications, Financial Services and Interstate Commerce Committee considered a resolution to repeal the Dodd-Frank Wall Street Reform and Consumer Protection Act, which includes the Durbin swipe fees reform amendment. “
“Significant grassroots pressure from the retail community at the state level, including state convenience and fuel retailing associations and members of the Merchants Payments Coalition, forced Rep. Flynn to reluctantly make a motion to strike all language that referenced swipe fees, which was then accepted by the committee. The revised resolution failed to pass the committee.”
Not much too talk about here and the industry might be better served by legislators turning their attention to getting consumer confidence back on track which right now, would have the most positive impact on financial institutions’ balance sheets.