Debit card swipe fee reform will create savings in our community
Akisha Freeman | , Manager of Sugar Hill Restaurant | 5/27/2011, 1:10 p.m.
As a small business owner, I was thrilled when Congress finally passed commonsense swipe fee reforms last year. We needed the relief, as swipe fees have increased dramatically over the years. The reforms, which are due to take effect in July, would allow me to pass along savings to my customers.
But the big banks are using their political muscle to try to delay these reforms. Sen. Jon Tester has recently introduced legislation to do just that. Should his bill become law, small businesses will pay $33 million per day in fees.
Sen. Kirsten Gillibrand stated recently, "Small business is the answer to our economic downturn." As a small business owner, I am asking that you op- pose the Tester amendment and give small business owners thereliefweneedtosucceed.
Akisha Freeman, Manager of Sugar Hill Restaurant