Tell Congress to Protect Debit Swipe Fee Reforms!
The House of Representatives is set to consider the Financial CHOICE Act next week, and we urgently need you to contact your member of Congress to help protect debit swipe fee reforms. The CHOICE Act includes a provision that would repeal debit reforms (known as the Durbin Amendment) as part of a larger package aimed at reforming the Dodd-Frank Wall Street Reform and Consumer Protection Act-potentially increasing your debit swipe fees by more than 200%
Debit swipe fee reforms have been an unequivocal success for both merchants and consumers. Consumers have saved nearly $6 billion per year since the enactment of debit reforms and while merchants have saved billions in fees as well. In addition, the debit reforms have been a job creator-with more than 37,000 jobs created in the first year after implementation according to economist Robert Shapiro.
The Durbin Amendment was a major win for the supermarket industry-placing a cap on outrageous debit swipe fees, and introducing transparency and competition into the debit market for the first time. Swipe fee reforms have worked for over 5 years and provided consumers and businesses with incredible benefits.
Please send a letter to your Member of Congress and urge them to oppose the Financial CHOICE Act as long as it includes this harmful provision!