We are at a critical crossroads in the fight to maintain important debit card interchange fee reforms. Congress will be in recess and back home in the districts April 18 -- 31, providing an excellent opportunity for grocers to meet with your elected officials to urge them to NOT co-sponsor and VOTE NO on H.R. 1081 or S. 575 in any form. Watch the latest N.G.A. TV Clip providing an update on the current situation in Washington to maintain debit swipe fee reforms.
Because this is all not really my primary business, I may not fully understand, but as an Accountant, I see the income received currently by banks being moved from their balance sheets to the retailer balance sheets. Then more questions come up, if banks were using the income to offset fraudulent charges for debit card users, maintaining employees, etc.., what will the retailers do with this new income??? Did the legislation say merchants being purchased would reduce in price? How do I win?
Preluding99 9 months ago