N.G.A. Opposes Delay on Debit Swipe Fee Reform

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N.G.A. Opposes Delay on Debit Swipe Fee Reform

03/15/2011

The National Grocers Association strongly opposes new legislation introduced to delay debit swipe fee reforms.

Peter J. Larkin, president and CEO of the Arlington, Va.-based N.G.A. issued the following statement: "The National Grocers Association is disappointed that a group of Senators has chosen to side with the big Wall Street banks over Main Street businesses and urges the Senate to reject efforts to pass this legislation. The same big banks that received billions in tax payer bailouts are now asking Congress to support another bailout by trying to delay and kill a rule to reform anticompetitive debit swipe fees before it's even written. Each month of delay costs community-focused grocers, small businesses, and our customers $1 billion more a month. N.G.A. urges Senators to stand with your community-focused grocers and small businesses and reject this misguided legislation and allow the Federal Reserve to continue its Rulemaking without delay."

N.G.A. is the national trade association representing the retail and wholesale grocers that comprise the independent sector of the food distribution industry.