A Quote by Dick Durbin

American businesses and consumers deserve a debit card system with competition, transparency, and reasonable fees.

Dick Durbin

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American American Business Businesses Card Competition Consumers Debit Deserve Fees Reasonable System Transparency

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Dick Durbin
American - Politician
Born: November 21, 1944

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.

Peter Welch

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.

Dick Durbin

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.

Perianne Boring

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.

Paloma Faith

Consumers could be in for an even sweeter deal, either getting discounts from retailers for using the PIN debit cards or being rewarded by card network by winning money back for using the signature debit cards.

David Robertson

It's completely reasonable, even if some Bitcoin currency purists wouldn't like it, to have credit and debit card payments denominated in Bitcoin rather than dollars, and net settled on Bitcoin instead of on Fedwire.

Nick Szabo

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.

Peter Welch

If you don't have the money management skills yet, using a debit card will ensure you don't overspend and rack up debt on a credit card.

T. Harv Eker

I try to use my debit card rather than a credit card, but I will use a credit card for big purchases because I bank with Coutts and I get points.

Sean Pertwee

At its core, bitcoin is a smart currency, designed by very forward-thinking engineers. It eliminates the need for banks, gets rid of credit card fees, currency exchange fees, money transfer fees, and reduces the need for lawyers in transitions all good things

Peter Diamandis

At its core, bitcoin is a smart currency designed by very forward-thinking engineers. It eliminates the need for banks, gets rid of credit card fees, currency exchange fees, money transfer fees, and reduces the need for lawyers in transitions... all good things.

Peter Diamandis

Maybe you'll take the cash out. So a credit card company or a bank that goes into the business of saying we're going to be the broker, we're going to sell you a mortgage that you're going to be able to pay off, we're going to help you reduce your credit card debt, we're going to help you save for retirement, we're going to put you into mutual funds that have low fees rather than high fees.

Richard Thaler

I don't use a debit card. The safest thing is a credit card because you're using the bank's money. If someone accesses your information, they are stealing the bank's money, not yours.

Frank Abagnale

Patients deserve increased price transparency and affordable care, particularly as the system shifts significant costs to them.

Heather Bresch

I've always believed that competition is good for consumers and good for businesses.

Jim Pattison

With less competition, corporations can use their power to raise prices, limit choice for consumers, cut wages for workers, crowd out start-ups and small businesses.

Hillary Clinton

A Quote by Dick Durbin

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