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Retail groups oppose bill to undo swipe fee reform

from Convenience Store News

Sen. Jon Tester, D-Mont., recently introduced a bill to delay implementation of the so-called Durbin amendment, a measure passed into law last year that would limit the price-fixing engaged in by the nation's largest banks so they would be required to compete on their debit card swipe fees, or charge an amount that is "reasonable and proportional" to their costs. The legislation, S. 575, introduced on March 15 seeks to delay for two years critical reforms aimed at providing relief to America's small business owners. more

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