“The Durbin rule was the worst rule,” says an executive at one of the major banks. “Debit cards had nothing to do with the crisis. The fact is, we give free stuff to our customers. Now we’re going to have to be the bad guy.”
That has shit all to do with the crisis and the rule, as far as FLG can tell, will have zero to negative benefits for consumers. This was something to benefit retailers. FLG might have to ask around to some of the lobbyists he knows about what the deal was behind the Durbin rule, besides, you know, Dick Durbin being a jackass, even if he is a fellow SFS alumnus.