Colorado Booksellers: Support Important Legislation on Swipe Fees
Colorado House Bill 25-1282, the "Swipe Fee Fairness and Consumer Safeguards Act,” looks to reduce swipe fees for businesses. Please urge your state legislators to support this legislation today! Simply click the “Take Action Now” button below–it should take you just a few minutes. This bill looks to regulate payment card networks like Visa and Mastercard in Colorado, specifically focusing on reducing interchange fees. 

Here are the key points:

Purpose: By regulating payment card network practices, especially interchange fees, this bill seeks to reduce the financial load on both businesses and consumers. This means more money stays in the community.

Legislative Declaration: The bill acknowledges the substantial interchange fees paid by Colorado businesses and consumers, their inflationary effect, and the particular strain they put on industries like restaurants. The intent is to keep money within Colorado, bolster local businesses, and create jobs. This will directly help our local bookselling community.

Prohibited Practices for Payment Card Networks: The bill prohibits unfair practices such as:

  • Fixing interchange fees.
  • Indirectly setting fees through schedules.
  • Charging fees on taxes or gratuities.
  • Requiring merchants to accept all cards from a covered issuer.
  • Misusing transaction data.
  • Charging fees on disputed transactions until resolved.
  • Penalizing merchants for legal pricing.
     

Please urge your lawmakers to support this bill. 

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