It was an amendment to prohibit credit card companies from charging more than 30 percent interest.

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To his credit, he does acknowledge that the First Amendment has something to say about the video game issue, but whenever I hear a deflection like this one, I hear the tacit message that the Second Amendment is a sacred right while the First is an unnecessary burden.

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Mecca noted that other credit unions are already changing their terms in response to the amendment.

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However, as a result of key loopholes within the law as well as strategic industry reaction to its provisions, the Durbin Amendment will actually result in a restructuring of the credit card and prepaid card markets rather than any long-term merchant savings.

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It also argues the Durbin amendment, which caps fees on debit cards, will drive banks to push customers toward using credit cards instead.

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The aim of the amendment was to push some debit card transaction costs from retailers onto their banks that assume consumer credit risks and process transactions.

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Instead, it spoke in dire terms of the possibility that America could lose its AAA credit rating, and advocated spending cuts, spending caps, and a balanced budget amendment to the Constitution as the solution.

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