Banks: How to Cripple an Industry

And the job growth and the local economies that depend on it.

The restriction on debit card fees, known as the Durbin Amendment after the senator who proposed it, Dick Durbin of Illinois, could alone cost the top 25 banks roughly $8 billion in lost revenue, Mr.Goldberg said.
. . .
Even if Mr.Tester wins a reprieve for the banks, other rules in the broader Dodd-Frank bill, which overhauled financial regulations, could cost the industry another $8 billion, according to Mr.Goldberg.

$16 billion in lost revenue due to government regulations. Nice. Expect to see more non-financial offerings from banks because they offer lower interest rates.

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