April 13 at 12:29 p.m.
Filed under:
Banking,
Government
By CNN
Sen. Dick Durbin, left, has criticized JPMorgan Chase CEO Jamie Dimon for his bank's swipe fees, among other issues. (Michael Tercha/Chicago Tribune; Bloomberg News)
JPMorgan Chase CEO Jamie Dimon, who is critical of a key provision in the financial reform law, has been taken to task by U.S. Sen. Dick Durbin (D.-Ill.) in a scathing letter.
“There is no need for you to threaten your customers with higher fees when you and your bank are already making money hand-over-fist,” Durbin wrote to Dimon about the threat of higher debit card fees. “And there is no need to make such threats in response to reform that simply tries to spare consumers from bearing the cost of interchange fees that are anticompetitive and unreasonably high.” Get the full story »
March 23 at 6:36 a.m.
Filed under:
Transportation
By Associated Press
Gov. Pat Quinn and U.S. Sen. Dick Durbin greet workers at the Amtrak Rail Yard. (Michael Tercha/Tribune)
The next phase of construction on a high-speed rail route between Chicago and St. Louis will begin next month, a high-stakes transportation project similar to those that other states have rebuffed, Illinois Gov. Pat Quinn and U.S. Sen. Dick Durbin announced Tuesday.
“Illinois has always been a strong railroad state and we always will be,“ Quinn said at an Amtrak rail yard near downtown Chicago. Get the full story »
Feb. 18 at 6:09 a.m.
Filed under:
Banking
By Dow Jones Newswires-Wall Street Journal
Top U.S. regulators said Thursday that small banks could be hurt by new limits on debit-card fees, comments that could fuel efforts to delay or change a provision in the Dodd-Frank financial-overhaul law.
The provision directs the Federal Reserve to cap “swipe fees” that debit-card issuers charge merchants each time a customer pays with a debit card. Banks and credit unions with less than $10 billion in assets, however, are exempted from the limit and can charge higher fees. Get the full story »
Dec. 13, 2010 at 7:22 a.m.
Filed under:
By Associated Press
Senators get their first chance Monday to vote on the tax-cut deal struck by President Barack Obama and Republicans, but whatever the outcome of the test vote, the White House expects the bill to pass by year’s end.
“Everybody understands what it would mean for the economy if we don’t get this done,” Obama adviser David Axelrod said Sunday. The No. 2 Senate Democrat, Dick Durbin of Illinois, said a “good cross-section” of senators in his party are ready to accept the deal. Get the full story »
Dec. 3, 2010 at 5:58 a.m.
Filed under:
Government,
Taxes
By Associated Press
Defying expectations, a bipartisan majority of President Barack Obama’s deficit commission has rallied behind the panel’s controversial deficit-slashing proposals.
A key Obama ally, liberal Democratic Sen. Dick Durbin of Illinois, endorsed the plan Thursday night, joining two of the Senate’s most conservative Republicans. Get the full story »
Nov. 4, 2010 at 7:31 a.m.
Filed under:
Defense,
Jobs/employment
By Associated Press
Despite the urging of two federal lawmakers, Olin Corp. says it is moving an ammunition plant and 1,000 jobs from Illinois to Mississippi. The Clayton, Mo.-based Olin said Wednesday that its Winchester Centerfire Operations in East Alton will be relocated to Oxford, Miss. Get the full story »
Sep. 1, 2010 at 7:57 a.m.
Filed under:
Education
From Bloomberg News | U.S. education stocks are under pressure after U.S. Sen. Dick Durbin (D-Ill.) said industry practices should be curbed. “We need to consider whether it is wise for companies to profit so handsomely on federal funding when the results don’t match the investment,” Durbin said in a statement. “And we need congressional action to rein in abuses and ensure that taxpayer dollars are being wisely spent.”
