Should big banks jack up fees, Rep. Barney Frank, (D-Mass.), told CNBC Friday, he would urge bank customers to shop around and find community banks and credit unions that offer services for free.

“America has one of the most competitive banking systems, if not the most competitive banking system, in the world,” said Frank, who is a ranking member of the House Financial Services Committee and a co-author of the Dodd-Frank Act, a sweeping piece of reform legislation passed last year and aimed at preventing a financial meltdown similar to what happened in 2008.

Frank was responding to a question about the Durbin Amendment. The legislation proposes applying regulation to debit-card payments, and it would cost banks fees.