“Today the Senate will take a landmark vote on an amendment offered by Senator Durbin to protect our nation's retailers from out of control debit card increases and unfair business practices. The Food Marketing Institute, on behalf of your neighborhood grocers and the families we feed in our communities every day, strongly encourages Members of the Senate to support amendment #3932. This will be one of the most critical votes taken this year that will affect the supermarket industry. Interchange swipe fees have grown exponentially over the past decade and are one of the highest costs of doing business in our industry. Just last month, Visa Interlink raised rates an estimated 30 percent on PIN debit transactions without any justification. We hope the Senate will choose to protect community retailers from these kinds of abuses by supporting this common sense amendment today."
Food Marketing Institute proudly advocates on behalf of the food retail industry. FMI’s U.S. members operate nearly 40,000 retail food stores and 25,000 pharmacies, representing a combined annual sales volume of almost $770 billion. Through programs in public affairs, food safety, research, education and industry relations, FMI offers resources and provides valuable benefits to more than 1,225 food retail and wholesale member companies in the United States and around the world. FMI membership covers the spectrum of diverse venues where food is sold, including single owner grocery stores, large multi-store supermarket chains and mixed retail stores. For more information, visit www.fmi.org and for information regarding the FMI foundation, visit www.fmifoundation.org.
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