National Restaurant Association Protects Debit Swipe-fee Provisions

National Restaurant Association Protects Debit Swipe-fee Provisions

Recently, the National Restaurant Association joined forces with dozens of other restaurant groups to launch a campaign against repealing debit swipe-fee protections under the Durbin Amendment. As of May 26 their efforts have succeeded and restaurants are protected. The U.S. House Financial Services Committee revised the Financial CHOICE Act.

Originally in the Durbin Amendment of 2010, fee protections provided relief to small businesses who had been paying astronomical fees on every debit-card purchase a customer made. The protections cut fees nearly in half and saved restaurants millions of dollars annually. This allowed restaurant operators to hire tens of thousands of new employees.

The issue came before the U.S. House of Representatives on March 28 as part of the Financial Choice Act, proposed by Financial Services Committee Chair Jeb Hensarling. The full House of Representatives is expected to vote on the revised legislation as soon as the week of June 5. The NRA will continue to keep a close watch on the legislation as it moves through the House and Senate.

Recently, the National Restaurant Association joined forces with dozens of other restaurant groups to launch a campaign against repealing debit swipe-fee protections under the Durbin Amendment. As of May 26 their efforts have succeeded and restaurants are protected. The U.S. House Financial Services Committee revised the Financial CHOICE Act.

Originally in the Durbin Amendment of 2010, fee protections provided relief to small businesses who had been paying astronomical fees on every debit-card purchase a customer made. The protections cut fees nearly in half and saved restaurants millions of dollars annually. This allowed restaurant operators to hire tens of thousands of new employees.

The issue came before the U.S. House of Representatives on March 28 as part of the Financial Choice Act, proposed by Financial Services Committee Chair Jeb Hensarling. The full House of Representatives is expected to vote on the revised legislation as soon as the week of June 5. The NRA will continue to keep a close watch on the legislation as it moves through the House and Senate.

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