Where does Dennis Rehberg stand on debit card swipe fee issue?

Despite political attack, millionaire Congressman has yet to explain his position to Montanans

Helena, MT - Ted Dick, the executive director of the Montana Democratic Party, today released the following statement in response to the Montana Republican Party’s so-called “report” about debit card swipe fees and Senator Jon Tester’s bipartisan leadership in protecting Montana small businesses and consumers:

    “Now that Dennis Rehberg has finally jumped into this important issue, it’s time for him to explain to Montanans whose side he is on.  Either he’s with Jon Tester on the side of rural America and its small business, or he’s with big corporations and the secret ad campaign that’s smearing Jon Tester over the radio waves.  For now, his vote is for sale to the highest bidder.

    “The bottom line is between Jon Tester and Dennis Rehberg—only Jon voted to actually reform Wall Street and hold big banks accountable.  Only Jon voted to reform the credit card industry.  Yet again, Dennis Rehberg is only creating smoke where there is no fire.  Montanans deserve better. They deserve someone who’s actually willing to work across party lines to put out fires.”

HERE ARE THE FACTS:

• Last year, Tester voted against a last-minute amendment that could soon result in a government limit on the fee that banks and credit unions charge every time a consumer uses a debit card.  Despite Tester’s “no vote,” the amendment passed.
• Tester and many of his colleagues, both Republicans and Democrats, have raised concerns that a government limit on debit transactions will have unintended consequences in Montana and other rural states.  The limit is below the cost of doing business, which means Montana’s community banks and local credit unions won’t be able to cover the costs of offering debit cards.
• Without the ability to offer debit cards, community banks and local credit unions will not be able to compete with large national banks.  They may be forced to stop certain services or go out of business, which will hurt Montana businesses and consumers.
• Jon Tester, along with Republican Senator Bob Corker of Tennessee, introduced legislation to simply stop and study the impact of limiting debit card swipe fees before putting them into effect.
• Tester has always been opposed to consolidation of the financial industry and voted against it a year ago.  His support of the issue have nothing to do with his campaign donations—plain and simple.