Payments News

On The Wires



Retailers Promise Fight to Keep Swipe Fee Reform as Financial CHOICE Act Heads Toward Full House Vote

"Today, the Retail Industry Leaders Association (RILA) responded to the House Financial Services Committee's markup of the Financial CHOICE Act, legislation that would roll back many of the financial reforms passed in the wake of the financial meltdown in 2008. Retailers have vowed to fight any financial reform bill that repeals swipe fee reform, bipartisan legislation passed in 2010 that stopped large banks and card networks from charging merchants exorbitant fees on debit card transactions."