A Quote by Dick Durbin
The swipe fee reform law that Congress enacted in 2010 was a huge step forward in bringing transparency, competition, and choice to a debit card system that had been rigged by Visa, MasterCard, and the banks.
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Last year, Congress passed a law that directs the Federal Reserve to set limits on debit card swipe fees that are reasonable and proportional to the cost of processing those transactions. Like most Americans, I had no idea that swipe fees charged to American businesses are the highest in the world.
American businesses and consumers deserve a debit card system with competition, transparency, and reasonable fees.
Swipe fees have increased steadily since the introduction of debit cards 20 years ago, when there were no swipe fees at all. Merchants can't negotiate or control them. They've tried, but they have no leverage against the big banks and issuers. So they get ignored.
The credit/debit card transaction system is antiquated, expensive, and inefficient. There are over nine steps to complete a transaction from the time a customer swipes their card to payment processing, settlement, and when the merchant finally gets paid. Every step along the way costs both the consumer and the vendor in additional fees.
The fact is I tried for years to work with the financial industry on reasonable swipe fee reform, but the industry wouldn't have it.
I use debit cards for everyday purchases, as I don't believe in credit cards. But this has caused problems, especially with American touring, because I refuse to have a credit card - and in America you can't pay for anything on a debit card.
The specific question was visa overstays.Current federal law requires a biometric exit-entry system when you come in on a visa. And the [Barack] Obama administration is just ignoring federal law. Forty percent of illegal immigration is not people who cross the borders illegally. It's people who come legally on a visa and never leave.
I`ve been saying, even against me, the system is rigged. When I ran as a - well, for president, I could see what was going on with the system, and the system is rigged. What I`m saying is they`re not necessarily wrong. I mean, there are certainly people where unfortunately that comes into play. And I`m not saying that, I can really relate it very much to myself.
We will finally complete the biometric entry-exit visa tracking system, which we need desperately. For years Congress has required biometric entry-exit visa tracking systems but it has never been completed. The politicians are all talk, no action. Never happens, never happens... In my administration we will ensure that this system is in place.
In the 1990s, there was a lot of reform, and there was a lot of forward movement on a lot of fronts in Russia. There was fundamental economic reform. There was a new constitution and an electoral system built from scratch. But the judicial system was probably the most difficult to reform.
We should make it as easy as possible to be able to get a legal work visa - not citizenship, not a green card. Just a work visa, with a background check and a Social Security card so that applicable taxes would get paid.
40 percent of people who come to visit America on a visa overstay their visa and we have no idea where they are. On 9/11, at least 2 of the hijackers were here on visa. They were traveling back and forth to the Middle East. And we really had no idea where they were or what they were doing. And they were overstaying their visa. So there are problems I think in the immigration system that need to be fixed for our safety.
I can use my credit card to send money to the Ku Klux Klan, to antiabortion fanatics, or to anti-homosexual bigots, but I can't use it to send money to WikiLeaks. The New York Times published the same documents. Should we tell Visa and MasterCard to stop payments to the Times?
I never thought to stay here without papers. I had visa. I travel every few months back to the country, to Slovenia, to stamp the visa. I came back. I apply for the green card.
The 112th Congress passed only 220 laws, the lowest number enacted by any Congress. In 1948, when President Truman called the 80th Congress a 'Do-Nothing' Congress, it had passed more than 900 laws.
There is a consensus of willing leaders from both parties coalescing around the right way forward in health care. Reform should address government-imposed inequities and barriers to true choice and competition.
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