Stop Efforts to Repeal Swipe Fee Reform - ACT NOW
Why This Matters to You: Several lawmakers want to repeal the swipe fee reforms we fought so hard to achieve. Swipe fees are already the second highest operating cost for convenience stores. The passage of swipe fee reforms - also known as the Durbin Amendment - provided... [+] more
Why This Matters to You:
Several lawmakers want to repeal the swipe fee reforms we fought so hard to achieve. Swipe fees are already the second highest operating cost for convenience stores. The passage of swipe fee reforms - also known as the Durbin Amendment - provided some relief for merchants by limiting the debit fees the biggest banks can charge and by protecting competition in network routing. If these reforms are repealed, retailers will once again be put under the price-fixing control of Visa and MasterCard and the debit swipe fees you pay will skyrocket.
What's Happening in Congress
Chairman Hensarling has announced that he plans to introduce another Wall Street reform bill early this year. It is likely that this bill will be substantially similar to the Financial CHOICE Act from earlier this year, which included full repeal of debit swipe fee reform. His efforts are being applauded by the banks, credit unions, and credit card companies.
How You Can Protect Swipe Fee Reforms:
Your voice in this issue matters. Two minutes of your time can keep swipe fees from increasing dramatically. Your members of Congress need to hear from you about how repealing debit reforms would affect your business and your customers. NACS opposes any efforts to repeal the Durbin Amendment. We've made it very easy for you to help. Click the button below to ask your Representatives to oppose this legislation and protect debit reforms. [-] less
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The Association for Convenience and Fuel Retailing
NACS | 1600 Duke Street Alexandria, VA 22314