A important banking reform bill may be headed to the House floor in the coming weeks. House Financial Services Committee Chairman Jeb Hensarling, R-Texas, sponsored the Financial CHOICE Act, which would roll back some of the biggest regulatory burdens of the 2010 Dodd-Frank law, bringing meaningful relief for consumers and small businesses.

Left out of the CHOICE (Creating Hope and Opportunity for Investors, Consumer and Entrepreneurs) Act, though, is a provision that would have eliminated a cap on debit card swipe fees, the so-called Durbin Amendment. Its namesake reasoned that capping the amount that banks charge retailers for debit card purchases would result in consumer savings, but history has proven otherwise. The policy has resulted in higher bank fees and costs and restricted access to free checking accounts.