Lyle Beckwith, Senior Vice President of Government Relations at the National Association of Convenience Stores (NACS), released the following statement regarding the House of Representatives’ passage of the Financial CHOICE Act of 2017 while protecting debit swipe fee reform:
“NACS applauds the fact that clearer heads in Congress have prevailed, and the House has protected debit swipe fee reform. Eliminating this reform would have been an endorsement of duopoly price-fixing of swipe fees by the credit card behemoths and would cost consumers and Main Street retailers $8 billion per year.
“We want to thank the members of Congress who stood tall for everyday citizens and made it clear that debit swipe fee reform has been good for their constituents. They made clear that any bill that would repeal those debit reforms cannot pass the House of Representatives.”
NACS advances the role of convenience stores as positive economic, social and philanthropic contributors to the communities they serve.