Thursday, October 27, 2011

Durbin Causes DVD Rental Price Increase

Crain's Chicago Business reports:
Redbox is raising the price it charges for renting a DVD to $1.20 from $1, the first increase since the company was founded in 2003.

The Oakbrook Terrace-based company blamed the price hike on increased costs, including the fees it pays under an amendment by U.S. Sen. Richard Durbin, D-Ill., that capped the interchange fees that banks charge to process debit-card transactions.

Senator Durbin sure is greedy, maybe he was thinking of trying to get his wife some new lobbying business from different industries.