Minority organizations, Members of Congress, small business advocates, financial experts, and government agencies agree:

Interchange legislation will hurt small businesses, community banks, credit unions, and consumers.

See a list of the voices that have spoken out against this legislation »

"If the BigBox merchant lobby is successful in artificially reducing the costs of payment card acceptance...first, cardholders will pay more for payment cards and receive fewer benefits. Second, card issuers would be forced to reduce the amount of credit they extend, exacerbating the existing credit crunch." - National Black Chamber of Commerce

Read the NBCC’s letter to Congress »

"In light of [the GAO Report], the Small Business & Entrepreneurship Council (SBE Council) urged Congress to carefully consider the negative fallout for small businesses and their customers of any new regulations or interference in this competitive market." - The Small Business & Entrepreneurship Council

Read the Small Business & Entrepreneurship Council's Statement »

“Today's GAO report throws some much needed cold water on the misleading claims of big merchants such as 7-Eleven Inc. and shows the campaign for interchange fee controls for exactly what it is -- a self-interested push by retailers to shift credit and debit card processing costs to consumers.” - John Berlau, Competitive Enterprise Institute

Read the Competitive Enterprise Institute's
Statement »

"Now these chain stores are lobbying Congress to pass a law that could finish the job --- wiping independent businesses off the map in neighborhoods across the country." - Harry Alford, President and CEO, National Black Chamber of Commerce

Read the op-ed by Harry Alford here »

"Long story short: this bill would limit revenue to banks while Congress is spending billions to “bail out” the banking system. It would raise costs on consumers. And while reducing an expense for some retailers, it probably would result in customers having less money and credit to spend in stores." - Russell Kashian, Associate Professor of Economics at University of Wisconsin-Whitewater

Read the op-ed by Russell Kashian here »

ADD YOUR VOICE

Tell Congress to vote “No” on interchange legislation »