ARLINGTON, VA – March 29, 2011 -- The Food Marketing Institute released the following statement from Jennifer Hatcher, senior vice president of government relations:

"The letter from Chairman Bernanke today is just another step in the very thorough rulemaking process undertaken by the Federal Reserve Board of Governors to finalize debit card fee reforms many small businesses are anxiously awaiting to go into effect this July. We applaud Chairman Bernanke and Federal Reserve for their commitment to completing the final rule in advance of the July 21 implementation date. Around this time last year, independent grocers were hit with a take-it-or-leave-it debit card cost increase of over 35 percent. Those grocers and many others, along with the families they feed in communities across the country, look forward to the implementation of debit card fee reforms on July 21 that will bring much needed relief to small business and our customers."