FMI Backs Interchange Swipe Fee Reform on the Radio

Food Marketing Institute (FMI) has turned to the airwaves to urge the U.S. House of Representatives and the Senate to give the nod to legislation including language to regulate interchange swipe fees by banks and credit card companies. The trade group’s radio advertisement on the matter can be heard on the WTOP station in Washington, where the nation’s lawmakers will be sure encounter it.

“Swipe fee reform is a critical issue to our members, and one that FMI has championed for 12 years,” explained Leslie G. Sarasin, president and CEO of Arlington, Va.-based FMI. “Because of its importance, we are urging that Congress pass the Wall Street reform bill containing this important provision. It is the right thing to do, and it keeps small businesses in business and helps consumers.”

Congressional votes on the Wall Street Reform Bill are anticipated in the coming days. According to FMI spokeswoman Kathleen N. Thomas, the ad is running through tomorrow, when the House vote is expected. At presstime, the date of the Senate vote was still uncertain.
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