— Kyle King @ 1:34 pm — 
May 28, 2010
US Democrat Senator, representing Illinois, Richard Durbin said that MasterCard and Visa Inc can face serious antitrust concerns if these two majors penalize banks that use their network for payments.
The democrat, who authored the bill that limits the debit card fees, on Thursday, sent a letter to the Chief Executive Officers of these two banks accusing them of frightening smaller banks to oppose his regulation that proposes to also reduce the interchangeable fees which the merchants pay to the banks when the customers uses a debit or credit card for paying for the purchases made.
Durbin’s letter says “I would caution you not to collude with your largest member banks to change your fees and rules in an effort to protect the big banks against competition from smaller card-issuing banks. Suc