United States 112th Congress Status: Died 1 D cosponsors

S 575 — Debit Interchange Fee Study Act of 2011

Last action — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Debit Interchange Fee Study Act of 2011 - Amends the Electronic Fund Transfer Act to extend from 9 months after the date of enactment of the Consumer Financial Protection Act of 2010 to 24 months after the date of enactment of this Act the rulemaking timelines and effective dates for the proposed debit interchange (swipe) rule of the Board of Governors of the Federal Reserve System (Board) that is required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. Declares void and without legal effect any regulation proposed or prescribed by the Board pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act before the date that is 6 months after completion of the study required by this Act. Directs specified banking regulatory agencies (study agencies) to study jointly and report to certain congressional committees regarding the impact of regulating debit interchange transaction (swipe) fees and related issues under the Electronic Fund Transfer Act. Prescribes study contents including the costs and benefits of electronic debit card transactions (EDTs) and alternative forms of payment, including cash, check, and automated clearing house (ACH) for consumers, merchants, issuers, and debit card networks.

Bill Text

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Read S 575 on the official United States source →

Action History

  1. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance
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Frequently asked questions

What does S 575 do?
Debit Interchange Fee Study Act of 2011 - Amends the Electronic Fund Transfer Act to extend from 9 months after the date of enactment of the Consumer Financial Protection Act of 2010 to 24 months after the date of enactment of this Act the rulemaking timelines and effective dates for the proposed debit interchange (swipe) rule of the Board of Governors of the Federal Reserve System (Board) that is required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. Declares void and without legal effect any regulation proposed or prescribed by the Board pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act before the date that is 6 months after completion of the study required by this Act. Directs specified banking regulatory agencies (study agencies) to study jointly and report to certain congressional committees regarding the impact of regulating debit interchange transaction (swipe) fees and related issues under the Electronic Fund Transfer Act. Prescribes study contents including the costs and benefits of electronic debit card transactions (EDTs) and alternative forms of payment, including cash, check, and automated clearing house (ACH) for consumers, merchants, issuers, and debit card networks.
Who sponsors S 575?
S 575 is sponsored by Jon Tester (D).
What is the current status of S 575?
This bill died with 112th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 575?
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