Visa disappointed with Durbin Amendment

Visa Inc. said it was disappointed with an amendment limiting interchange fees passed Thursday as part of the U.S. Senate financial regulation bill.

According to Reuters, the amendment proposed by Senator Richard Durbin (D - Illinois) allows retailers to shift their cost for accepting debit cards to consumers.

"Written and backed by lobbyists representing the nation's largest retailers, the Durbin Amendment could significantly harm consumers," Visa said in a statement.