NACS Drive Nets 2 Million Signatures for Interchange Reform

May 6, 2010 

A national trade group representing convenience stores across the country delivered 2 million consumer signatures asking Congress to put an end to unfair credit and debit card swipe fees. NACS and U.S. Representatives Peter Welch (D-Vt.) and Bill Shuster (R-Pa.) held a press conference urging members of Congress to support legislation that limits the fees and regulates how they are set by the major card networks. “Today two million Americans added their voices to the chorus calling for fairness for the small businesses that drive our economy. Two million more Americans are recognizing that swipe fees kill good-paying, local jobs and drive up costs for consumers. Two million more Americans are saying ‘enough is enough,'” said Rep. Welch. “We must take action to rein in the abusive practices of the credit card industry and ensure that small businesses get a fair deal.” Combined with 1.7 million signatures collected during a 7-Eleven initiative, the total number of signatures delivered to Congress is 3.7 million—the largest number of consumer signatures ever collected for a public policy issue. Rep. Shuster, who has introduced legislation to reform swipe fees, said: “As a former small business owner, I know how hard it is to make a payroll, pay taxes and fees, and try to make a profit all at the same time. For far too long, interchange fees have been an unnecessary impediment for businesses, and that needs to change.”