The National Restaurant Association expressed extreme disappointment in the House Financial Services Committee decision to pass the Financial CHOICE Act, which includes a provision to repeal debit swipe fee reform—a measure the Association fought for on behalf of the restaurant industry.
"The National Restaurant Association is extremely disappointed that the Financial CHOICE Act, including a provision to repeal debit swipe fee reform, has passed the House Financial Services Committee," says Laura Chadwick, director of commerce and entrepreneurship for the National Restaurant Association. "We are categorically opposed to the repeal of these critical reforms that have brought a degree of competition, transparency and fairness to debit swipe fee costs where there was absolutely none previously. We fought vigorously with our members to achieve debit swipe fee reform for years, and we will continue to fight against any further movement of this bill so long as a repeal provision is included. We urge Members of Congress to stand with small business, not big banks."