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    National Grocers Association Fight Congress Sept 2016

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    SenateBriberyInquiry
    Over 400 merchants signed a letter to Congress urging them to protect debit card swipe fee reform known as the Durbin Amendment. The letter was in response to potential repeals of the amendment which brought increased competition to debit markets and reduced merchant fees charged by banks. A grocery trade group representative stated that independent grocers were grateful to voice support on this important issue.

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    National Grocers Association Fight Congress Sept 2016

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    SenateBriberyInquiry
    107 views9 pages
    Over 400 merchants signed a letter to Congress urging them to protect debit card swipe fee reform known as the Durbin Amendment. The letter was in response to potential repeals of the amendment which brought increased competition to debit markets and reduced merchant fees charged by banks. A grocery trade group representative stated that independent grocers were grateful to voice support on this important issue.

    Original Description:

    Sep 6, 2016 Independent Grocers Rally to Protect Debit Card Swipe Fee Reform ARLINGTON, VA – Today, more than 400 merchants from across the country sent a letter to Members of Congress urging them to protect debit card swipe fee reform, also known as the Durbin Amendment that was included in the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Nearly half of the signatories were independent grocers who joined this effort to voice concern over the potential negative impacts that a repeal of the Durbin Amendment would have on their businesses. The letter, addressed to Chairman of the House Financial Services Committee Jeb Hensarling and Congressman Randy Neugebauer calls for Congress to maintain the reforms passed as part of the Durbin Amendment and preserve increased competition in the debit market. Greg Ferrara, senior vice president of government relations and public affairs of the National Grocers Association (NGA) stated: “As a founding member of the Merchants Payments Coalition, we are grateful for the number of NGA member companies that took action on this issue. The independent supermarket industry plays a vital role in America’s economy and when nearly 170 Main Street Grocers stand with other retail organizations and companies to tell Members of Congress about the direct benefits the Durbin Amendment has had on their businesses and the communities they serve, Congress listens.” The Durbin Amendment has brought increased competition in the debit routing market and helped cut down the price-fixed fees that the largest U.S. banks charge merchants for purchases made on debit cards.

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    Over 400 merchants signed a letter to Congress urging them to protect debit card swipe fee reform known as the Durbin Amendment. The letter was in response to potential repeals of the amendment which brought increased competition to debit markets and reduced merchant fees charged by banks. A grocery trade group representative stated that independent grocers were grateful to voice support on this important issue.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    107 views9 pages

    National Grocers Association Fight Congress Sept 2016

    Uploaded by

    SenateBriberyInquiry
    Over 400 merchants signed a letter to Congress urging them to protect debit card swipe fee reform known as the Durbin Amendment. The letter was in response to potential repeals of the amendment which brought increased competition to debit markets and reduced merchant fees charged by banks. A grocery trade group representative stated that independent grocers were grateful to voice support on this important issue.

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    Home/

    News Landing

    NGA News
    Independent Grocers Rally to Protect Debit Card Swipe
    Fee Reform
    Sep 6, 2016
    Independent Grocers Rally to Protect Debit Card Swipe Fee Reform
    ARLINGTON, VA Today, more than 400 merchants from across the country sent a letter
    to Members of Congress urging them to protect debit card swipe fee reform, also known as
    the Durbin Amendment that was included in the Dodd-Frank Wall Street Reform and
    Consumer Protection Act of 2010. Nearly half of the signatories were independent grocers
    who joined this effort to voice concern over the potential negative impacts that a repeal of the
    Durbin Amendment would have on their businesses.
    The letter, addressed to Chairman of the House Financial Services Committee Jeb Hensarling
    and Congressman Randy Neugebauer calls for Congress to maintain the reforms passed as
    part of the Durbin Amendment and preserve increased competition in the debit market.
    Greg Ferrara, senior vice president of government relations and public affairs of the National
    Grocers Association (NGA) stated: As a founding member of the Merchants Payments
    Coalition, we are grateful for the number of NGA member companies that took action on this
    issue. The independent supermarket industry plays a vital role in Americas economy and
    when nearly 170 Main Street Grocers stand with other retail organizations and companies to
    tell Members of Congress about the direct benefits the Durbin Amendment has had on their
    businesses and the communities they serve, Congress listens.
    The Durbin Amendment has brought increased competition in the debit routing market and
    helped cut down the price-fixed fees that the largest U.S. banks charge merchants for
    purchases made on debit cards.

    *Download the 2016 NGA Media Kit*

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