Electronic Payments Coalition Statement on Chairman Barney Frank's Announcement That His Committee Will Not Review Interchange Fee Legislation This Year

WASHINGTON, Feb. 25 /PRNewswire/ -- The Electronic Payments Coalition issued the following statement in response to House Financial Services Committee Chairman Barney Frank's announcement yesterday that his committee would not consider interchange legislation this year:

    
    
       Chairman Frank has substantial expertise in complex financial matters,
       and an unblemished record in consumer protection.  It's no surprise
       that he'd move very deliberately before involving his committee in a
       fight between two businesses.

About Electronic Payments Coalition

The Electronic Payments Coalition is dedicated to protecting consumer value, choice, and competition in electronic payments systems. The coalition is a broad-based group of payment card networks, financial services companies, and financial services trade associations whose primary goal is to educate policy-makers, consumers, and the media about the value of electronic payments systems — including economic growth, convenience, speed, reliability, and security — and to ensure the continued growth of global commerce by promoting consumer choice and the stability of the vast payment networks that connect millions of consumers with millions of retailers each and every day.

SOURCE Electronic Payments Coalition