Wall Street banks are pushing Congress to take away critical debit swipe-fee protections put in place in 2010. If they are successful, your restaurant will face skyrocketing debit swipe-fees yet again. Tell Congress that you oppose repeal of debit swipe-fee protections!
In 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act brought relief to restaurants by limiting the ability of financial institutions to charge unreasonable debit card swipe fees on many transactions. Today, debit swipe fees average between 24 and 27 cents per transaction, nearly half what it was before Dodd-Frank. Unfortunately, some in Congress want to repeal this critical reform.
How it affects your restaurant:
If those in Congress pushing for repeal are successful, restaurants and small businesses across the country will undoubtedly see an increase in debit card swipe fees back to an average of 44 cent or more per transaction. This will drive up operational and consumer costs, which is just plain bad for business.