The debate over interchange has resurfaced amid rumors that at least one ranking Democrat in the U.S. Congress is considering new legislation.

The National Association of Convenience Stores reported in its member bulletin that Sen. Arlen Specter, D-Pa., plans to pursue interchange legislation similar to a bill introduced in the House of Representatives in 2009 by Rep. Peter Welch, D-Vt. A spokeswoman for the Senator said an interchange bill is under consideration, but no formal decision has been made.

That Welch bill, H.R. 2382, the Credit Card Interchange Fees Act, addresses the permissibility of discounts for cash payments and the honor all cards rules. It has been stuck in the House Banking Committee since its introduction, and in February, Rep. Barney Frank, D-Mass., Chairman of the Banking Committee, said publicly that he had no plans to move interchange legislation through the committee this year.

Sen. Specter is no stranger to the issue of interchange. In May 2008, commenting in response to a General Accountability Office report on interchange, he suggested "remedial legislation" might be necessary if banks and merchants can't come terms over interchange.