In a letter that went out to all members of Congress yesterday, retail groups across the country hit back on the financial industry’s misleading claims that the small bank swipe fee exemption will not function properly.
On behalf of the undersigned trade associations, and the tens of thousands of merchants and retail locations we represent, we are writing to make clear that we have no contractual or practical ability to treat debit cards issued by small financial institutions or credit unions differently than those issued by large institutions. Furthermore, our member companies are committed to customer service and it is not in their interest to discriminate against debit cards that so many customers carry.
Full letter available here.