Will Durbin Amendment Cripple Contactless, Hurt NFC?

If this picture offends, then at least the Feds
are successful at one thing...instituting "Political Correctness"

Besides the obvious fact that the Federal Government doesn't know what they are doing when it comes to running this country, (maybe "ruining" but not running) let alone trying to regulate the payments industry, there are now rumblings that the Durbin Amendment could hurt, no make that "ciripple" crucial developments in the contactless and NFC industry.  I have a suggestion.  Why not try and figure out how to run the Post Office in order to effectively compete with UPS and Fed Ex before they start messing with something they don't even understand?  Then again, I'm guilty of that as well, since I'm messing with Durbin while failing to understand why on earth he is involved in the first place. Digital Transactions has the scoop:  

A Little-Noted Durbin Provision Could Cripple Contactless, Hurt NFC, Experts Say
Apr. 26, 2011

Could a little-noted provision in the Durbin Amendment strangle the nascent U.S. contactless-payments market in its crib? It’s a very real possibility, says a pair of researchers, and the consequences could deal a blow to the prospects for mobile payments that depend on a promising technology called near-field communication (NFC).  “I see this as having a chilling effect on NFC,” says Andy Schmidt, research director for global payments at Needham, Mass.-based researcher TowerGroup. “It could short-circuit the value proposition behind millions of dollars of investment [in NFC].”