Merchants condemn effort to repeal swipe-fee reforms

摘要

The Merchants Payments Coalition on Oct. 12 condemned a plan by Reps. Jason Chaffetz (R-Utah) and Bill Owens (D-N.Y.) to introduce legislation to repeal swipe fee reforms. The reforms are just beginning to benefit merchants, consumers and small banks across the country, the Coalition said in a statement. "For Members of Congress today to do the bidding of the country's biggest banks and attempt to repeal these reforms is an affront to merchants and their customers," said Mallory Duncan, chairman of the Merchants Payments Coalition (MPC) and senior vice president and general counsel of the National Retail Federation. "Repealing these reforms sends a message that anti-competitive, price-fixing behavior on the part of the country's biggest banks is acceptable."