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(128 seconds)
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(OPEN):
LAST YEAR, PRESIDENT OBAMA SIGNED INTO LAW WHAT MANY CONSIDER TO BE
IMPORTANT, BIPARTISAN REFORMS TO PROTECT SMALL BUSINESSES FROM PAYING
"EXCESSIVE" SWIPE-FEES. SPECIFICALLY, THE REFORMS WERE AIMED AT
ENSURING THAT DEBIT-CARD SWIPE-FEES BECOME "REASONABLE AND PROPORTIONAL"
TO THE OVERALL COST OF PROCESSING EACH TRANSACTION. NOW, AS THE
FEDERAL RESERVE WORKS TO ESTABLISH RULES TO DETERMINE HOW THE REFORMS
WILL BE IMPLEMENTED, "REFORM SWIPE FEES NOW!" IS CLAIMING
THAT BIG BANKS AND CREDIT-CARD COMPANIES ARE AGGRESSIVELY LOBBYING TO
WEAKEN THE REFORMS--IN ORDER TO KEEP THEIR RECORD PROFITS AND BONUSES.
HOWEVER, DENNIS LANE--A 7-ELEVEN FRANCHISE-OWNER, AND SPOKESMAN
FOR THE COALITION--SAYS THAT "MAIN STREET" IS REFUSING TO BACK DOWN...
(LANE):
"I WAS PLEASED WHEN PRESIDENT OBAMA AND CONGRESS STOOD UP FOR
SMALL BUSINESSES, ACROSS THE COUNTRY, BY PASSING IMPORTANT SWIPE-FEE
REFORMS, LAST YEAR. I'VE OWNED MY SMALL BUSINESS FOR ALMOST FOUR
DECADES: YEAR AFTER YEAR, I HAVE SEEN THESE FEES CONTINUE TO RISE;
IN FACT, I WOULD SAY THAT, TODAY, SWIPE-FEES ARE MY SECOND-HIGHEST
EXPENSE--SECOND ONLY TO PAYROLL. AND, UNFORTUNATELY, THE BANKS AND
CREDIT-CARD COMPANIES WON'T LET US NEGOTIATE A FAIR RATE. WE ARE
WILLING TO PAY OUR FAIR SHARE--BUT THESE RATES HAVE SPUN OUT OF CONTROL.
I'M DISAPPOINTED, BUT NOT SURPRISED, THAT THE BIG BANKS AND CREDIT-CARD
COMPANIES ARE NOW LOBBYING TO WEAKEN THESE REFORMS. THAT'S WHY
I'LL JOIN WITH 100 SMALL-BUSINESS OWNERS IN WASHINGTON, D-C--TO URGE
SENATORS, CONGRESSMEN, AND THE FEDERAL RESERVE TO STAND WITH US, AND
PROTECT COMMONSENSE SWIPE-FEE REFORM. FOR SMALL-BUSINESS OWNERS,
PROPERLY IMPLEMENTING THESE REFORMS WILL ENABLE US TO GROW OUR
BUSINESSES--AND PASS SAVINGS ON TO OUR CUSTOMERS."
(CLOSE):
"REFORM SWIPE FEES NOW!" IS UNITING U-S BUSINESS-OWNERS--BOTH LARGE AND
SMALL--IN A CAMPAIGN FOR WHAT THEY CALL "FAIR" DEBIT- AND CREDIT-CARD
SWIPE-FEES. LANE IS URGING THE PUBLIC TO TELL THEIR SENATORS AND
REPRESENTATIVES TO URGE THE FED TO NOT LET THE BIG BANKS AND CREDIT-CARD
COMPANIES WEAKEN "REASONABLE" REFORM, BY CALLING THE
CAPITOL-SWITCHBOARD--AT AREA-CODE 202/224-3121.
