Let’s not celebrate too early here. I agree with others in that the Banking sector is probably up in arms over the regulations that are being imposed on them, and I’m sure that’s where this is coming from.
Legislation doesn’t just get repealed in a heartbeat. This will take years to repeal, if in fact it does get repealed. Washington is a slow moving train, and further, this is a politically-sensitive issue, so don’t expect resounding support for repeal, particularly after it passed overwhelmingly (even though it was a rider).
Sorry to be negative here, but just trying to throw a dose of realism on this. The damage has been done, and the industry will never be the same, no matter how you slice and dice it. I surely hope it gets repealed, but don’t look for this to be a golden nugget panacea, because it won’t be.
Perhaps, on the bright side, with all the crap going on in the Attorney General’s office, we will someday see our NETeller funds……