WR joins forces (with the Food Industry Association) in a crucial call to action urging the Federal Reserve Board to implement a “reasonable and proportional” debit card regulated rate.
For over a decade, retailers and merchants have borne the burden of paying high swipe fees for debit transactions, far exceeding the actual processing costs incurred by banks. Despite legislation mandating a review of these fees, the rate set by the Federal Reserve in 2011 has remained unchanged. Here is an opportunity for reform, as the Federal Reserve has proposed a reduction in these fees and established a process for regular revision.
It is imperative that we continue to advocate for a rate that truly reflects the principles of fairness and proportionality. We need to ensure that the voices of merchants and consumers are heard loud and clear by the Federal Reserve, emphasizing the positive impact a reduction in fees will have on the economy and individual buying power.
To lend your support to this critical cause, we urge you to click here to share your message directly with the Federal Reserve in the proposed rule docket.
Thank you for your commitment to promoting fairness and equity in the retail industry.
