Target: Marsha Blackburn, Chair of Senate Subcommittee on Consumer Protection
Goal: Confront major consumer losses brought about by swipe fees.
When powerful credit card companies Visa and MasterCard reached a settlement with retailers to curb swipe fees, it appeared relief might be on hand for consumers who pay an extra 1,200 dollars on average per person annually for the surcharges. In just a year’s time, swipe fees in total near an eye-popping 200 billion dollars. But tucked into the proposed settlement was an important caveat: merchants could now reject certain cards for payment, including uber-popular rewards cards.
At the state level, efforts to mitigate the impact of swipe fees haven’t gotten much traction either. A handful of states have attempted to ban swipe fees on taxes or even curb the practice altogether, but these efforts usually run into legal roadblocks. Meanwhile, national advocates for reform argue that a country-wide solution is needed…something the president himself has also claimed.
Sign the petition below to demand lawmakers take up this important effort.
PETITION LETTER:
Dear Senator Blackburn,
With an ongoing affordability crisis, Americans need more financial relief than ever. Yet pressures continue from all sides, including the ongoing battle between merchants and credit card companies over swipe fees – a battle in which consumers have become collateral damage to the tune of 200 billion dollars. Proposed measures such as the Visa and MasterCard settlement have major gaps that could end up costing consumers even more, and repeated attempts by states to address the issue have failed.
This problem needs a national solution, and the Committee on Consumer Protection must lead the effort. Please work with your colleagues and craft a robust bill – with the input of advocates and experts – that will ease the financial pain of consumers being charged to ruin.
Sincerely,
[Your Name Here]
Photo Credit: Pixabay
