NRF Launches Radio Campaign To Limit Swipe Fees
The National Retail Federation says it has launched a radio campaign in the home districts of key congressional members, urging them to insist on reasonable swipe fees for debit card transactions.
Currently, lawmakers are hammering out a final version of the Restoring American Financial Stability Act, and while it currently contains an amendment to keep these fees low, some are seeking to drop it altogether.
"With big banks and the credit card industry pushing hard to strip this important consumer protection out of the financial services reform bill, we want to make sure that members of Congress realize how angry small businesses and their customers are about these fees," NRF says in its release.
"These fees are driving up costs for consumers at a time when our economy is still recovering. Taxpayers have already paid for one bailout of the banking industry. Consumers shouldn't be asked to bail out the banks and the card industry again, but that's what would happen if this amendment is killed."