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'Reform Swipe Fees NOW!' Is Urging Congress to Reject Proposed Legislation that Would Delay the Implementation of Last Year's Reforms

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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.  BUT, EVEN BEFORE THE REFORMS HAVE TAKEN EFFECT, SENATOR JON TESTER OF MONTANA HAS INTRODUCED LEGISLATION THAT WOULD DELAY IMPLEMENTATION FOR TWO YEARS--A MOVE THAT, CRITICS SAY, WOULD COST BOTH SMALL BUSINESSES AND CONSUMERS ABOUT 33-MILLION DOLLARS, EVERY SINGLE DAY.  HOWEVER, DENNIS LANE--A 7-ELEVEN FRANCHISE-OWNER, AND SPOKESMAN FOR "REFORM SWIPE FEES NOW!"--SAYS THAT "MAIN STREET" ISN'T GIVING UP...

(LANE):
"WHEN PRESIDENT OBAMA AND CONGRESS STOOD UP TO THE BIG BANKS AND CREDIT-CARD COMPANIES LAST YEAR, IT WAS A TREMENDOUS WIN FOR SMALL BUSINESSES AND CONSUMERS, ACROSS THE COUNTRY, WHO HAVE SPENT TOO MANY YEARS UNDER THE THUMB OF 'WALL STREET'.  THE CURRENT INTERCHANGE-SYSTEM IS MONOPOLIZED BY BIG BANKS AND CREDIT-CARD COMPANIES THAT CHARGE SO MUCH TO PROCESS A DEBIT-CARD TRANSACTION THAT--WHEN A CUSTOMER COMES INTO MY STORE, AND USES THEIR CARD TO BUY A CUP OF COFFEE--I WOULD LOSE LESS MONEY BY JUST GIVING THE COFFEE AWAY.  I THINK [THAT] THERE'S SOMETHING INHERENTLY WRONG WITH THAT.  OBVIOUSLY, THE BANKS AND CREDIT-CARD COMPANIES ARE PERFECTLY HAPPY WITH THIS ARRANGEMENT--WHERE THEY RAKE IN DOLLARS OFF THE BACKS OF HARD-WORKING AMERICANS.  BUT, CONGRESS WAS RIGHT TO TAKE ACTION TO REIN IN THESE OUT-OF-CONTROL FEES LAST YEAR--AND NOW IT'S TIME FOR THEM TO FOLLOW THROUGH ON THE PROMISE THAT THEY MADE TO THOSE OF US ON 'MAIN STREET'.  THAT'S WHY I'LL JOIN WITH SMALL-BUSINESS OWNERS IN WASHINGTON, TO URGE CONGRESS TO SEE THAT THESE REFORMS ARE ENACTED THIS SUMMER--ONCE AND FOR ALL.
"

(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 NOT TO LET THE BIG BANKS AND CREDIT-CARD COMPANIES WEAKEN "REASONABLE" REFORM, BY CALLING THE CAPITOL-SWITCHBOARD--AT AREA-CODE 202/224-3121.



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