ALEXANDRIA, Va.-- After learning late on May 3 that Senator Richard Durbin (D-Ill.) has filed amendments to the Senate's financial services regulatory overhaul legislation that that would make reasonable reforms to the credit and debit card systems, NACS president and CEO Hank Armour contacted members urging them to contact their senators to support the amendments.
"Our five-year battle to pass swipe fee reform legislation continues on Capitol Hill," noted Armour. "This week, the Senate is considering financial services regulatory overhaul legislation. Two amendments [image-nocss] 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. he second, Durbin amendment #3769, would give equality for check card and paper check feesmeaning that debit interchange, or 'swipe,' fees could be significantly reduced or eliminated."
Armour urged NACS members to call the senators from every state in which they do business and let them know that 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," said Armour.
NACS sent detailed contact information to members but said retailers also can contact their Senators via the Capitol switchboard toll-free at (877) 224-0041.
"Make sure you give them your name, address and store locations/number of employees in the state. We don't know the exact timing of the voteso please call ASAP" to "ask senators to vote yes on amendments 3771 and 3769," said Armour.
The National Association of Convenience Stores, based in Alexandia, Va., represents more than 2,100 retail and 1,500 supplier member companies.
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