Urgent Action Needed: Protect Swipe Fee Reform
For American small businesses, debit swipe-fee protections brought competition and fairness to Main Street.
However, the big banks and credit card companies are intent on repealing this debit reform to line their pockets.
We need to Protect Swipe Fee Reform and STOP Wall Street banks from taking savings away from the American consumer and Main Street businesses!
If debit reforms are repealed, retailers and consumers will once again be put under the price-fixing control of Visa and MasterCard, and the costs to you and your customers will skyrocket.
This cannot happen, which is why your voice on this issue is critical.
The time to act is NOW. Urge your members of Congress to protect debit swipe fee reform, support competition & to oppose any efforts to repeal debit reform! Since its implementation, debit reform has resulted in consumer savings of nearly $6 billion per year and supported more than 37,000 jobs per year.
Debit swipe fee reform works and has saved consumers and Main Street businesses over $40 billion.
Repealing swipe fee reform would have detrimental effects on the American economy. Repeal would diminish competition and choice in electronic payments, dramatically increase debit card swipe fee rates, and force American merchants and their customers to pay an estimated $8 billion-per-year in additional fees to the nation’s biggest banks!
Protect Swipe Fee Reform!
A bill in the House of Representatives, the Financial Choice Act, would repeal these reforms and once again permit the nation’s largest banks and credit card companies to price-fix fees. Repealing swipe fee reform would take billions from consumers and give it solely to the nation’s largest banks. Don’t let the big banks swipe consumers’ savings again.