Durbin retirement positive for card issuers, says Keefe Bruyette

Keefe Bruyette says the retirement of Senator Dick Durbin is a positive for financial networks and card issuers. Senator Durbin has been merchant friendly and against the payments networks with a keen focus on curtailing credit card interchange fees, the analyst tells investors in a research note. The firm says that while someone will likely step in to take on these issues, “few are likely to have his determination in pursuing them.”