Opponents of the interchange status quo had another shot at grabbing congressional support Oct. 8, 2009, with a hearing before the U.S. House Financial Services Committee. The hearing was called to accept testimony on H.R. 2382, the Credit Card Interchange Fees Act of 2009, and H.R. 3639, the Expedited CARD Reform for Consumers Act of 2009. In terms of H.R. 2382, the hearing appeared to be more a formality than a serious attempt to address interchange legislation.
Committee Chairman Barney Frank, D-Mass., made it clear during the hearing that he was most interested in enacting legislation that would move up the implementation date on provisions of the Credit Card Accountability, Responsibility and Disclosure Act of 2009 (Credit CARD Act of 2009).