The Hill: Bank Fight Tests Reid's Allegiances

[flpoljunkie]

Bank fight tests Reid’s allegiances
By Alexander Bolton
05/17/11

Senate Majority Leader Harry Reid (D-Nev.) is walking a tightrope in the proxy battle between Sens. Dick Durbin and Charles Schumer during one of the year’s biggest special-interest lobbying fights.

Durbin (Ill.), the Senate majority whip and second-ranking Democratic leader, has squared off against Schumer (N.Y.), the Democratic Policy Committee chairman and No. 3 in the Senate Democratic hierarchy, over regulations capping fees that banks charge for debit-card transactions.

Some Senate insiders see the clash over banking rules as a flare-up in the long-running rivalry between Durbin and Schumer, who are contenders to take over as Democratic leader whenever Reid decides to step down.

Reid says he will vote with Durbin, a significant development in a legislative rumble that has spurred retailers and banking interests to spend millions of dollars in lobbying fees and campaign contributions to sway lawmakers.

more...

Tester's bill is S.575. He has 16 cosponsors, listed below. There is a similar bill in the House, coauthored by Debbie Wasserman Schultz, which delays implementation of the debit fee changes for one year. It now has 94 sponsors. http://thomas.loc.gov/cgi-bin/bdquery/z?d112:h.r.01081:

S.575
Latest Title: Debit Interchange Fee Study Act of 2011
Sponsor: Sen Tester, Jon (introduced 3/15/2011) Cosponsors (16)

Latest Major Action: 3/15/2011 Referred to Senate committee. Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
COSPONSORS(16), ALPHABETICAL : (Sort: by date)

Sen Akaka, Daniel K. - 3/17/2011
Sen Baucus, Max - 3/17/2011
Sen Blunt, Roy - 3/29/2011
Sen Carper, Thomas R. - 3/15/2011
Sen Coburn, Tom - 3/15/2011
Sen Coons, Christopher A. - 3/15/2011
Sen Corker, Bob - 3/15/2011
Sen Kyl, Jon - 3/15/2011
Sen Lee, Mike - 3/15/2011
Sen McCaskill, Claire - 3/16/2011
Sen Nelson, Bill - 3/29/2011
Sen Nelson, E. Benjamin - 3/15/2011
Sen Roberts, Pat - 3/15/2011
Sen Sessions, Jeff - 3/29/2011
Sen Thune, John - 3/15/2011
Sen Toomey, Pat - 3/15/2011


http://thomas.loc.gov/cgi-bin/bdquery/z?d112:s.00575:

[Mass]

1. Claire McCaskill is of course on the wrong side of the equation.

[flpoljunkie]

2. It tells you a lot, too, when 9 of the 16 cosponsors are Republicans. Most of the House cosponsors

are Republicans, as well--altho Debbie Wasserman Schultz is the co-author of the House bill. Dems are apparently looking to get back of the Wall Street campaign money they lost in 2010.