Retailers working to cut or cap credit and debit card interchange are shifting their efforts from members of the House Judiciary Committee to members of the House Financial Services Committee.
The Merchant Payments Coalition, a lobbying that retail associations formed around the interchange issue, announced that it has taken out advertising designed to link the issues of card interchange with subprime mortgage lending and the overall crisis in financial services.
"We don't think we can fix the economic crisis without addressing the incentives behind irresponsible credit card lending by reforming the interchange fee system and addressing this unfair burden on American small businesses and consumers," said Hank Armour, CEO of the National Association of Convenience Stores on a call detailing the advertising campaign for reporters.
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The "six figure" campaign will run on television, radio, online and print formats in the members' districts, will name the members specifically and include information for their constituents to contact their offices. The members targeted in the ad are Rep. Shelley Moore Capito (R-WV); Rep. Travis Childers (D-MS); Rep. Bill Foster (D-IL); Rep. Jim Gerlach (R-PA); Rep. Jim Himes (D-CT); Rep. Paul Hodes (D-NH); Rep. Dan Maffei (D-NY); and Rep. Walt Minnick (D-ID).
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