Washington Report: Recess Is Not for Playing Around

Your Members of Congress Are Back Home: Tell Them Today To Fight Unfair Credit Card Fees

June 04, 2010

Senators and Representatives are in their home towns shaking hands and campaigning for the people€™s vote. They come back to Washington next week and will get back to work on policy- most notably the financial services reform bill that contains swipe fee relief for merchants and consumers. You have one more weekend to make an impression and convey the importance of keeping the Durbin swipe fee language in the final version of the bill.

Bankers and credit unions are mobilized at a high level and from what we hear are sending 400-500 emails, faxes and letters a day to their members of Congress. Retailers must intensify and redouble our efforts; we€™ve gotten everyone€™s attention and now we have to follow through.

If you€™ve sent an email or made a phone call, please do so again. Spread the word to colleagues, family, and friends that a victory in the interchange battle will benefit every American. Two dollars of every $100 consumers spend using credit cards goes directly to the credit card industry. Americans paid over $48 billion in interchange fees in 2008 - more than twice what was paid in credit card late fees and three times ATM fees. This issue hits everyone€™s wallet.

Go to nacsonline.com/grassroots to send an email. Or click here for a list of congressional office phone numbers. The message is simple: Keep the Durbin Amendment - as passed by the Senate -- intact in the Financial Services Reform Bill.

NACS Staff Contact: Lyle Beckwith, lbeckwith@nacsonline.com

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