“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 (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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