Greetings,
The House Financial
Services Committee has announced a full committee hearing for
next Thursday, October 8th on the Credit Card Interchange Fees
Act, H.R. 2382, sponsored by Representatives Peter Welch
(D-VT) and Bill Shuster (R-PA). This legislation would
prohibit Visa and MasterCard's restrictive merchant contract
rules, give the Federal Trade Commission authority to review and
determine if any card company practices are anticompetitive, and
provide increased disclosure of interchange
fees.
This is the first hearing
scheduled on interchange fee legislation this year, and it is absolutely critical
that we drum up support for this bill. Please reach out to your
Members of Congress on the Financial Services Committee to
explain to them that credit and debit card interchange fees are
harming your businesses, and ask for them to
attend the hearing and support the Credit Card Interchange Fees
Act.
Contact Liz Garner at
egarner@fmi.org or at
202-220-0630 with any questions. As always, we appreciate your
help.
Click here
to send a letter to your committee member.
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