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FOR IMMEDIATE RELEASE
Food Marketing Institute Supports Interchange Swipe Fee Reform
Urges Congress to Pass Wall Street Reform Bill in Radio Advertisement Campaign ARLINGTON, VA — June 29, 2010 — The Food Marketing Institute (FMI) issued a radio advertisement today pressing the U.S. House of Representatives and the Senate to approve legislation that includes language to regulate interchange swipe fees by banks and credit card companies. Congressional votes on the Wall Street Reform Bill are expected in the coming days.
“Swipe fee reform is a critical issue to our members and one that FMI has championed for 12 years,” said Leslie G. Sarasin, president and chief executive officer at FMI. “Because of its importance, we are urging that Congress pass the Wall Street reform bill containing this important provision. It is the right thing to do and it keeps small businesses in business and helps consumers.”
The radio advertisement can be heard on WTOP radio in Washington, DC.
Food Marketing Institute (FMI) conducts programs in public affairs, food safety, research, education and industry relations on behalf of its 1,500 member companies - food retailers and wholesalers - in the United States and around the world. FMI's U.S. members operate approximately 26,000 retail food stores and 14,000 pharmacies. Their combined annual sales volume of $680 billion represents three-quarters of all retail food store sales in the United States. FMI's retail membership is composed of large multi-store chains, regional firms and independent supermarkets. Its international membership includes 200 companies from more than 50 countries. FMI's associate members include the supplier partners of its retail and wholesale members.