Retail Group Rallies for Interchange Cap
NACS, the Association for Convenience and Petroleum Retailing, has urged its members to write the Federal Reserve in support of the cap on debit card interchange.
After briefly reviewing the regulation, NACS wrote:
"There is a comment period currently underway, in which the public is invited to weigh in on the proposed regulations. The comments are almost entirely from bankers (what else do bankers have to do all day but write comments to the Fed?) who are trying to water down, delay or repeal the regulations. In order to balance out the public comments, PLEASE click here to send your own letter, which you can edit or write in your own comments. This is extremely important!"
The association was also encouraging turn out for its lobbying days on March 9-10 and to write federal legislators. "It is because of the tremendous grassroots pressure the convenience store industry placed on Congress that these much needed reforms are close to becoming a reality," the association wrote on its website, concluding: "It is essential that we keep up the pressure these last few months!"