ALEXANDRIA, Va. – Last week, legislation moved through the House Financial Services Committee that would repeal the debit reforms retailers fought so hard to achieve. The next stop for this bill is the House of Representatives, where it is expected to be voted on in just a few weeks.

The provision to fully repeal debit reform was included in the Financial CHOICE Act (H.R. 10), a massive piece of legislation introduced by Rep. Jeb Hensarling (R-TX) that seeks to reform and repeal parts of the Dodd-Frank Wall Street Reform Act. NACS opposes H.R. 10 so long as it includes a full repeal of debit reform contained in the Durbin Amendment, which was enacted as part of Dodd-Frank. The reforms injected competition into the payment cards market, which has resulted in $40 billion in savings for consumers and merchants.

NACS and other retail trade associations are pushing for an amendment to H.R. 10 that would remove debit reform repeal from the Financial CHOICE Act.

Seven years ago, convenience retailers sent 3.7 million petitions to Capitol Hill—one of the largest petition drives in U.S. history—asking members of Congress to bring transparency and competition to swipe fees. In the coming days and weeks leading up to the House vote on H.R. 10, the convenience store industry must join together and speak out again.

Using the NACS Grassroots portal, you can send a pre-drafted letter to your representatives asking them to remove the repeal of debit reform out of the Financial CHOICE Act. You can also send a tweet and write on the Facebook page of your representative through our Voter Voice grassroots portal. Social media is a highly effective tool of communicating with lawmakers and their staffs.

We must stop the repeal of debit reform. Lawmakers need to hear how their decisions could negatively impact your business and your customers. Contact your Representative today.