,,ii  #aahth ,,congress  #b;d ,session  
,s4 #degj  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,june #ah1     
#bjbd,mr4 ,budd 7for himself1 ,mr4      
,hagerty1 ,mr4 ,daines1 ,mr4 ,tillis1   
and ,mrs4 ,britt7 introduced the        
following bill2 which was read twice and
 referred to the ,committee on ,banking1
 ,housing1 and ,urban ,affairs  ,a      
,,bill  ,to require the ,board of       
,governors of the ,federal ,reserve     
,system to study the impacts of the     
proposed rule on debit card interchange 
fees and routing1 and for other         
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,secure ,payments   
,act of #bjbd4  #b4 ,definition ,in this
 ,act1 the term ,reg ,,ii proposed rule 
means the notice of proposed rulemaking 
entitled ,debit ,card ,interchange ,fees
 and ,routing 7#hh ,fed4 ,reg4 #ghajj   
7,november #ad1 #bjbc774  #c4 ,study and
 quantitative impact analysis related to
 interchange transaction fee            
requirements  7a7 ,in general ,the      

,board of ,governors of the ,federal    
,reserve ,system shall conduct-- 7#a7 a 
study of-- 7,a7 the impacts of the ,reg 
,,ii proposed rule on-- 7i7 consumers1  
including access to free or low- and    
no-cost deposit accounts2  7ii7 the     
costs to merchants of accepting debit   
cards2 and  7iii7 efforts of financial  
institutions to mitigate fraud2 and     
7,b7 the cumulative impacts of all      
proposed rules of ,federal agencies     
issued between ,january #a1 #bjbc1 and  
the date of enactment of this ,act that 
affect deposit accounts2 and  7#b7 a    
quantitative impact analysis of the ,reg
 ,,ii proposed rule to study-- 7,a7 the 
potential impact of the rule on         
consumers1 including the affordability  
of debit products and availability of   
low- or no-fee banking products serving 
low- and moderate-income communities2   
and  7,b7 the impact of the changes made
 by the rule on small insured depository
 institutions4  7b7 ,report ,the ,board 
of ,governors of the ,federal ,reserve  

,system shall submit to ,congress a     
report that contains all findings and   
determinations made in carrying out the 
study and the quantitative impact       
analysis required under subsection 7a74 
7c7 ,requirement ,to consider results of
 report before finalizing ,reg ,,ii     
proposed rule ,the ,board of ,governors 
of the ,federal ,reserve ,system may not
 finalize the ,reg ,,ii proposed rule   
until-- 7#a7 the date on which the      
report required under subsection 7b7 is 
issued2 and  7#b7 considering the       
results contained in the report required
 under subsection 7b72 and  7#c7 taking 
into account-- 7,a7 the effect of the   
,reg ,,ii proposed rule on the capital  
and earnings of depository institutions2
 and  7,b7 whether the ,board of        
,governors can determine that           
interchange fee caps provide net        
benefits to low- and moderate-income and
 underserved customers4