Reps. Welch and Shuster accompany baby business owners calling for acclaim and debit agenda fairness

Rep. Peter Welch (D-Vt.) joined a group of convenience store owners Tuesday morning as they delivered two million signatures from customers urging Congress to put an end to unfair credit and debit card swipe fees. At a Capitol Hill press conference, Welch and Rep. Bill Shuster (R-Penn.) called on their fellow lawmakers to support legislation they wrote, the Credit Card Interchange Fees Act (HR 2382), which would help level the playing field between consumers, small businesses and credit card companies by requiring greater transparency and prohibiting unfair and abusive practices. The two million new signatures add to 1.7 million signatures delivered by store owners to Congress last September. Welch also announced during the event that he will be introducing legislation requiring debit card payments to be processed in the same manner as paper checks, resulting in lower fees for merchants. Though debit cards function as the electronic equivalent of checks, debit card issuers charge egregious fees, while checks clear at a nominal rate. Today two million Americans added their voices to the chorus calling for fairness for the small businesses that drive our economy. Two million more Americans are recognizing that swipe fees kill good-paying, local jobs and drive up costs for consumers. Two million more Americans are saying enough is enough, said Rep. Welch. We must take action to rein in the abusive practices of the credit card industry and ensure that small businesses get a ...



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