NACS Urges Support for Swipe Fee Amendments
ALEXANDRIA, Va. -- NACS -- the Association for Convenience and Petroleum Retailing, is asking NACS members and c-store retailers to contact their senators to support the amendments to the Senate's financial services regulatory overhaul legislation filed by Senator Richard Durbin (D-Ill.), which would make reasonable reforms to the credit and debit card systems.
"Our five-year battle to pass swipe fee reform legislation continues on Capitol Hill," NACS President and CEO Hank Armour said in a statement. "This week, the Senate is considering financial services regulatory overhaul legislation. Two amendments have been introduced that deal directly with our issue. The first, Durbin/Leahy/Landrieu amendment #3771, would allow merchants to offer discounts, steer between card brands and to set minimum transaction amounts. The second, Durbin amendment #3769, would give equality for check card and paper check fees -- meaning that debit interchange, or 'swipe,' fees could be significantly reduced or eliminated."
Armour urged NACS members to call senators from every state in which they do business and tell legislators interchange fees are having a "devastating impact" on business and are raising costs for consumers.
"Members of Congress listen when their constituents speak up. We saw this with the 2 million signatures that our industry delivered to Congress last week asking to Fight Swipe Fees. We must keep the pressure on Congress to take action. It is essential for all NACS members to contact their senators and urge them to support Senator Durbin's amendments. To make this effort a success, we need individual retailers throughout the country to ask their senators to support this effort," noted Armour.
Retailers can contact their Senators via the Capitol switchboard toll-free at (877) 224-0041. NACS recommends giving your name, address and store locations/number of employees in the state.
"We don't know the exact timing of the vote, so please call asap" and "ask senators to vote yes on amendments 3771 and 3769," said Armour.
"Our five-year battle to pass swipe fee reform legislation continues on Capitol Hill," NACS President and CEO Hank Armour said in a statement. "This week, the Senate is considering financial services regulatory overhaul legislation. Two amendments have been introduced that deal directly with our issue. The first, Durbin/Leahy/Landrieu amendment #3771, would allow merchants to offer discounts, steer between card brands and to set minimum transaction amounts. The second, Durbin amendment #3769, would give equality for check card and paper check fees -- meaning that debit interchange, or 'swipe,' fees could be significantly reduced or eliminated."
Armour urged NACS members to call senators from every state in which they do business and tell legislators interchange fees are having a "devastating impact" on business and are raising costs for consumers.
"Members of Congress listen when their constituents speak up. We saw this with the 2 million signatures that our industry delivered to Congress last week asking to Fight Swipe Fees. We must keep the pressure on Congress to take action. It is essential for all NACS members to contact their senators and urge them to support Senator Durbin's amendments. To make this effort a success, we need individual retailers throughout the country to ask their senators to support this effort," noted Armour.
Retailers can contact their Senators via the Capitol switchboard toll-free at (877) 224-0041. NACS recommends giving your name, address and store locations/number of employees in the state.
"We don't know the exact timing of the vote, so please call asap" and "ask senators to vote yes on amendments 3771 and 3769," said Armour.