“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 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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