“Despite the positive first step with debit card fee reforms, there is still a lot about the financial services industry that is opaque and confusing,” Liz Garner, director of government relations, FMI said. “The FTC’s proactive efforts will undoubtedly help keep networks and financial institutions from skirting the new regulations, and will provide a critical outlet for merchants to report any concerns.”
Many of the big banks represent upwards of $50 million in consumer and small business accounts, so FTC has made available materials to help navigate the reforms and help retailers provide savings for their customers.
Food Marketing Institute (FMI) conducts programs in public affairs, food safety, research, education and industry relations on behalf of its nearly 1,250 food retail and wholesale member companies in the United States and around the world. FMI’s U.S. members operate more than 25,000 retail food stores and almost 22,000 pharmacies with a combined annual sales volume of nearly $650 billion. FMI’s retail membership is composed of large multi-store chains, regional firms and independent operators. Its international membership includes 126 companies from more than 65 countries. FMI’s nearly 330 associate members include the supplier partners of its retail and wholesale members.
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