Support Legislation to Prevent Higher Fees and New Restrictions on Debit Cards

Write a Letter to Congress : 4 Letters Sent So Far

by: freedom works | published: 03 29, 2011

Last year, Congress rushed through new regulations that would put price caps on "interchange fees," the price retailers pay for the ability to use debit cards.

These arebitrary caps threaten unintended consequences that will likely mean higher fees and new restrictions on debit cards. This ultimately hurts consumers like me who use debit cards and regularly rely on them to make everyday transactions.

I don't believe that government bureaucrats should be in the business of trying to set prices. The market should be allowed to operate free from government intervention in setting interchange fees.

Please support S. 575, The Debit Interchange Fee Study Act, that would take steps towards protecting consumers like me by delaying implementation of these new regulations. S. 575 would call for further study on this important issue which would provide more time for evidence of the damaging effects of the price control approach to be presented to Congress and the general public as a whole.

I urge you to vote "YES" on S. 575 and will be watching your vote closely.

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