Dems Schumer, Durbin Likely to Split on Bank Bill

Democratic Sens. Charles Schumer, N.Y., and Dick Durbin, Ill., both have shown interest in one day taking over as Senate Majority Leader. And they’re headed in opposite directions over a banking bill, knowledgeable sources tell The Hill.

Jon Tester

Sen. Jon Tester, D-Mont., has introduced a measure to delay new rules that would reduce fees banks can charge for debit card use. Those rules were imposed in the financial regulation reform law implemented last year.

Banks, of course, strongly support Tester’s idea, and Schumer will vote for it too, according to the sources. But Durbin strongly pushed for the rule to limit fees. Therefore, that would put him and Schumer at odds.

The two have lived in the same Capitol Hill townhouse for years and have long been viewed as rivals to succeed current Majority Leader Harry Reid.