I 
112TH CONGRESS 
1ST SESSION H. R. 1081 
To delay the implementation of proposed or final rules issued under the 
authority of the Dodd-Frank Wall Street Reform and Consumer Protec-
tion Act relating to the reasonable and proportional fees and rules 
for electronic debit transactions, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 15, 2011 
Mrs. CAPITO (for herself, Ms. WASSERMAN SCHULTZ, Mr. LUETKEMEYER, 
Mr. RENACCI, Mr. PERLMUTTER, Mr. HENSARLING, Mr. ROYCE, Mr. 
CANSECO, Mr. NEUGEBAUER, Mrs. BACHMANN, Mr. MEEKS, Mr. 
MCCLINTOCK, Mr. CARNEY, Mr. GIBBS, Mr. PETERS, Mr. HERGER, Mr. 
MARCHANT, Mr. KELLY, Mr. BARTLETT, Mr. CHAFFETZ, Mr. KISSELL, 
Mr. GARY G. MILLER of California, Mr. KILDEE, Mrs. MCCARTHY of 
New York, Mr. POLIS, Mr. CONNOLLY of Virginia, Mr. OWENS, and Ms. 
WOOLSEY) introduced the following bill; which was referred to the Com-
mittee on Financial Services 
A BILL 
To delay the implementation of proposed or final rules issued 
under the authority of the Dodd-Frank Wall Street Re-
form and Consumer Protection Act relating to the rea-
sonable and proportional fees and rules for electronic 
debit transactions, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Consumers Payment 
System Protection Act’’. 
SEC. 2. DELAY IN THE APPLICATION OF RULES ISSUED 
UNDER THE AUTHORITY OF SECTION 1075 OF 
THE DODD-FRANK WALL STREET REFORM 
AND CONSUMER PROTECTION ACT. 
Subject to section 3(b)(2), any proposed or final rule 
issued under the authority of any provision under section 
1075 of the Dodd-Frank Wall Street Reform and Con-
sumer Protection Act (Public Law 111–203), or of amend-
ments made by such section, shall take effect 1 year after 
the date of the enactment of this Act. 
SEC. 3. STUDY AND REPORT. 
(a) STUDY.— 
(1) IN GENERAL.—The Board of Governors of 
the Federal Reserve System, the Chairperson of the 
Federal Deposit Insurance Corporation, the Chair-
person of the National Credit Union Administration, 
and the Comptroller of the Currency shall jointly 
conduct a study on the effect of section 1075 of the 
Dodd-Frank Wall Street Reform and Consumer Pro-
tection Act (Public Law 111–203), and amendments 
made by such section, on consumers, card issuers, 
merchants, and financial institutions. Such study 
shall survey card issuers, merchants, and financial 
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institutions representing a cross section of all mar-
ket participants regardless of whether such partici-
pants are exempt from any rule issued under the au-
thority of section 1075 of the Dodd-Frank Wall 
Street Reform and Consumer Protection Act, or of 
any amendment made by such section. 
(2) CONSIDERATIONS.—The study described in 
paragraph (1) shall consider the following: 
(A) The identity and categories of all costs 
and investments associated with debit card 
transactions (prior to the implementation of 
section 1075 of the Dodd-Frank Wall Street 
Reform and Consumer Protection Act) to con-
sumers, card issuers, merchants, and financial 
institutions, including the operation of the pay-
ment system to support such transactions. 
(B) The impact of the proposed rule issued 
by the Board of Governors of the Federal Re-
serve System entitled ‘‘Debit Card Interchange 
Fees and Routing’’ (75 Fed. Reg. 81772 (Dec. 
28, 2010)), if finalized, including— 
(i) the impact of reduced debit card 
interchange fees on consumers, including— 
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(I) the cost to and consequences 
for consumers if such proposed rule 
were to become final; 
(II) the impact on consumer pro-
tection, including anti-fraud and cus-
tomer identification efforts, and pri-
vacy protection; and 
(III) the impact on consumers, 
particularly low- and moderate-income 
consumers (including banked and 
unbanked consumers), and small busi-
nesses with respect to the provision of 
payment accounts and services; 
(ii) the impact of reduced debit card 
interchange fees on debit card issuers, in-
cluding— 
(I) whether such fees would pro-
vide recoupment of costs and invest-
ments by debit card issuers; 
(II) whether such fees would re-
sult in increased risks to debit card 
issuers, including the potential impact 
on the safety and soundness of such 
issuers; and 
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(III) the impact of the exemption 
provided for smaller banks and credit 
unions, including whether potential 
merchant behavior would lead to dis-
crimination against debit cards issued 
by credit unions and community 
banks, and whether the exemption 
would have an adverse impact on the 
deposit base of credit unions and com-
munity banks as well as the payment 
system; 
(iii) the impact of the reduced debit 
card interchange fees on merchants, in-
cluding such merchants ability to— 
(I) pass savings on to the con-
sumer; 
(II) make new capital invest-
ments; and 
(III) cover the costs associated 
with fraud prevention; 
(iv) the impact on consumers, debit 
card issuers, and merchants of the debit 
exclusivity and transaction routing provi-
sions of section 920(b) of the Electronic 
Fund Transfer Act and any proposed or 
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final rules issued under such provisions, in-
cluding— 
(I) the impact on the continued 
innovation and development of secure, 
efficient, and reliable electronic pay-
ment technologies; and 
(II) the impact of mandating a 
specific number of enabled networks 
on each debit card; and 
(v) the impact on other entities that 
utilize debit card transactions, including 
the debit card programs of Federal and 
State entities. 
(C) Subsections (a) and (c) of section 904 
of the Electronic Fund Transfer Act (15 U.S.C. 
1693b(a), (c)). 
(b) REPORT.— 
(1) IN
GENERAL.—Not later than 8 months 
after the date of the enactment of this Act, the 
Board of Governors of the Federal Reserve System, 
the Chairperson of the Federal Deposit Insurance 
Corporation, the Chairperson of the National Credit 
Union Administration, and the Comptroller of the 
Currency shall jointly submit to Congress a report 
that includes— 
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(A) an analysis of the results of the study 
required under subsection (a); 
(B) a determination of whether revisions 
need to be made to any proposed or final rule 
described in section 2; and 
(C) a determination of whether revisions 
need to be made to any provision under section 
1075 of the Dodd-Frank Wall Street Reform 
and Consumer Protection Act, or any amend-
ment made by such section. 
(2) REVISIONS TO RULES.—The Board of Gov-
ernors of the Federal Reserve System shall have 4 
months after the submission of the report submitted 
pursuant to paragraph (1) to make revisions to any 
proposed or final rule described in section 2 if at 
least two of the Board of Governors of the Federal 
Reserve System, the Chairperson of the Federal De-
posit Insurance Corporation, the Chairperson of the 
National Credit Union Administration, and the 
Comptroller of the Currency determine, in such re-
port, that any one of the following are true: 
(A) Either of section 920 of the Electronic 
Fund Transfer Act or the proposed rule issued 
by the Board of Governors of the Federal Re-
serve System entitled ‘‘Debit Card Interchange 
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