How disastrous has the Durbin Amendment proven? Well, even Barney Frank, the famously hyper-regulatory coauthor of Dodd-Frank itself, acknowledged that the amendment harms consumers rather than helps them. Frank also supported legislative measures to revisit it, adding, “I believe that a free market approach in this area will be better for the economy and all concerned parties than the current system.”
When Barney Frank sings the praises of the free market as a superior alternative, it speaks volumes.
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