Credit and Debit Card Interchange Fees

Recent News
Durbin Interchange Reforms and Timeline
Supermarket Industry Guidance on Implementing Reforms on Restrictive Card Network Practices
Summary of Durbin Amendment as modified in Conference
FMI Commends House for Passage of Conference Report to Regulate Credit and Debit Card Interchange Fees - ARLINGTON, VA — June 30, 2010 — The Food Marketing Institute (FMI) praised the U.S. House of Representatives for passing the Conference Report to H.R. 4173, the Dodd-Frank Wall Street Reform and Consumer Protection Act, which includes a provision to regulate interchange fees set by banks and credit card companies. Read More...
Food Marketing Institute Supports Interchange Swipe Fee Reform - Urges Congress to Pass Wall Street Reform Bill in Radio Advertisement Campaign. Read More...
FMI Praises House and Senate Conferees for Reaching Compromise on Interchange Fee Amendment - America’s Grocery Stores Applaud Relief from Unreasonable Fees... Read More...
FMI Statement: According to a New Report From The U.S. Department of Treasury Government Would See Significant Cost Savings From Reasonable Interchange Rates - ARLINGTON, VA — June 16, 2010 — The Food Marketing Institute (FMI) issued the following statement from Jennifer Hatcher, group vice president of government relations, on this week’s report from the U.S. Department of Treasury that found the federal government could save more than $36 million a year if the government could negotiate their interchange rates with Visa and MasterCard. Under the current system, the interchange swipe fees are unilaterally set by the large card companies. Read More...
Support for Durbin Swipe Fees Amendment One-Pager
Senator Dick Durbin (D-IL) Floor Statement on Interchange Reform - June 10, 2010
Senate and House Conferees to the Financial Reform Conference Committee
Guide for Calling Members of Congress Requesting Support for the Durbin Amendment
FMI Responds to False Allegations that Durbin Amendment will Harm SNAP/Food Stamp EBT Benefits
Food Marketing Institute Praises Vermont For Passing Interchange Fee Legislation — Grocery Stores and Consumers Gain Relief from Credit Card Fees
FMI Statement on U.S. Senate’s Approval of Durbin’s Interchange Fee Amendment
ARLINGTON, VA — May 13, 2010 — The Food Marketing Institute (FMI) issued the following statement from Leslie G. Sarasin, president and chief executive officer, on the Senate’s approval today by a vote of 64 to 33 of Amendment #3989 to the Restoring American Financial Stability Act of 2010 (S. 3217):
FMI Statement on Sen. Durbin Interchange Fee Amendment to Financial Reform Bill
ARLINGTON, VA — May 12, 2010 — The Food Marketing Institute (FMI) issued the following statement from Leslie G. Sarasin, president and chief executive officer, on Amendment #3932 to the Restoring American Financial Stability Act of 2010 (S. 3217):


At a May 13 press conference on Capitol Hill, FMI Board member Art Potash (middle) of Potash Bros. Market in Chicago emphasizes how small food retailers are particularly hard hit by interchange fees. He is joined by U.S. Senate Majority Whip Dick Durbin (left) - whose amendment to achieve significant interchange reforms was approved the same day as part of major financial reform legislation - and Hank Armour, CEO and President of the National Association of Convenience Stores.



  • House Judiciary Committee Hearing on H.R. 2695, the Credit Card Fair Fee Act
    On behalf of our nation’s neighborhood grocers, the Food Marketing Institute strongly supports H.R. 2695, the Credit Card Fair Fee Act. We commend Judiciary Committee Chairman John Conyers (D-MI) and Congressman Bill Shuster (R-PA) for introducing this important legislation to provide merchants of all sizes the opportunity to negotiate rates and terms of card acceptance with Visa and MasterCard and the banks that issue their cards. The Credit Card Fair Fee Act would also...READ FULL STATEMENT


  • 2009 Merchants Payments Coalition Year-End Report


  • Merchant Advsiory _ November 2009
  • Distribution of Settlement Funds in Visa Check/Mastermoney Litigation
    Those who received a settlement check in 2006-07 for the 2003 Visa/MasterCard debit tying case settlement should expect another residual check by December 7, 2009. This residual check includes money redistributed from companies who either went out of business or did not claim their monies. A link to the Merchant Advisory regarding this information is below. Any questions on your check should be directed to Patricia O'Keefe at Constantine Cannon (representative of Lead Counsel). Patricia can be reached at 202.204.3517 or pokeefe@constantinecannon.com.
  • Download Merchant Advisory
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QUICK LINKS
Senator Dick Durbin (D-IL) Floor Statements on Credit and Debit Card Reform During Debate of the Restoring American Financial Stability Act of 2010
Roll Call Vote - Interchange - Durbin Amendment 3989
Key Vote: Durbin Amendment 3989
Interchange Update Archive
MULTIMEDIA CORNER
Support Swipe Fee Reform Radio Ad-2 Click here to listen
Support Swipe Fee Reform Radio Ad-1 Click here to listen

Bipartisan coalition calls on House leadership to support cracking down on credit card swipe fees


"Small businesses around the country are struggling to stay in business as they bear the brunt of the credit card industry's out-of-control swipe fees. These cash register rip-offs prevent small businesses from growing and creating jobs, and consumers end up paying the price," Rep. Welch said at the press conference. "This practical, bipartisan proposal will bolster small businesses by cracking down on the worst abuses perpetuated by the credit card industry."

Taking part in the press conference were Reps. Peter Welch (D-V.T.),Walter Jones (R-N.C.), Keith Ellison (D-Minn.) and John Hall (D-N.Y.).



Caption: FMI president and chief executive officer Leslie G. Sarasin explains why it is important to address hidden credit card interchange fees.

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