NEW YORK, March 10 /PRNewswire/ — On Thursday March 10th, more than 100 small business owners from across the country with Reform Swipe Fees NOW! will be in Washington, D.C. to urge Senators, Congressmen and the Federal Reserve (the Fed) to protect the commonsense swipe fee reform bill that Congress passed last year.
Last year, Congress passed and the president signed important bipartisan reforms that would help ensure that excessive debit card swipe fees become reasonable and proportional to the overall cost of processing each transaction. In the past the fees could sometimes be higher than the transaction itself. Now, as the Fed works to establish rules guiding implementation, the big banks and credit card companies are aggressively lobbying to weaken reform in a last ditch effort to retain their perks and profits – but Main Street refuses to back down.
For small business owners across the country, properly implementing these commonsense reforms will enable them to grow their businesses, offer better pay to their employees, and pass savings on to their customers. As the Fed works to establish rules to determine how the reforms will be implemented, these small business owners hope to ensure that the original intent of the law prevails.
Thursday, March 10th, 2011 6:30 PM - 6:45 PM ET Galaxy 19 Transponder 24 C-Band Downlink Freq. 4180 Horizontal
NEWS: Small Business Converge on Capital Hill to Protect Commonsense Swipe Fee Reform
FORMAT: B-roll and Soundbites
ADDITIONAL RESOURCES: Video, hard copy requests, downloadable MPEG2, contact information and more available at: http://multivu.prnewswire.com/broadcast/48988/press.html
- Senator Richard Durbin (D-IL)
- Congressman Peter Welch (D-VT)
- Small business owners from AL, CA, CO, IL, ME, MN, MS, NY, OH, RI, WI, WV, WY
- Dennis Lane, national spokesman, Reform Swipe Fees NOW! and 7-Eleven franchise owner
- Hank Armour, president and CEO, National Association of Convenience Stores
- Jeff Miller, president of Miller Oil Co. Inc. in Norfolk, VA
- Press Conference on Capitol Hill
VIDEO PROVIDED BY: Reform Swipe Fees NOW! is a project of RILA
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