Retailers in big push to uphold debit swipe fee reform

The Retail Industry Leaders Association (RILA) on Tuesday launched a national ad campaign urging Congress to protect debit swipe fee reform as the House is set to vote on the Financial CHOICE Act. As it stands, the legislation would eliminate hard-fought swipe fee reform that has saved retailers and American consumers billions, according to RILA.



The Republican-crafted act passed the Financial Services Committee on May 4, along party lines. It is now headed to the full House of Representatives.



RILA has launched a series of ads in key Congressional districts across the country. The 60-second ad features some of Wall Street's most egregious actions against American consumers reminding Congress just who they'll be supporting should they choose to repeal debit swipe fee reform.



"We launched these ads to remind Congress that America cannot afford to bailout Wall Street and the big banks once again," said Austen Jensen, VP of government affairs and financial services for RILA. "As it stands this legislation is a poison pill for any bipartisan effort to enact meaningful financial reform. Congress must act to uphold debit swipe fee reform or it will give Wall Street and card companies license to raise costs on America's retailers and our consumers."



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