The House and Senate conference committee on the financial services reform bill completed work Wednesday night without closing the books on the swipe fee reforms contained in the bill. As reported Wednesday afternoon, conference negotiations on other topics in the bill continued throughout the day, leaving open the potential for additional amendments to water down the swipe fee reform provisions.

Retailers should not assume that the reform provisions are safe. The banks and credit card companies are working overtime in an effort to render the current swipe fee agreement ineffective and have champions on the conference committee seeking opportunities to change the legislation.

To date, those members of Congress who support retailers and consumers have prevailed and protected the current agreement, but every day brings new opportunities to opponents of reform.

Stay tuned for further updates from NACS as they become available.