Sep 30, 2011
ARLINGTON, VA – September 30, 2011 – Today, in its ongoing effort to help bring fairness and transparency to swipe fees, Food Marketing Institute (FMI) alerted its food retailer members to the Federal Trade Commission’s (FTC) materials that educate merchants – both small and large – about the changes in the debit card marketplace.
“Despite the positive first step with debit card fee reforms, there is still a lot about the financial services industry that is opaque and confusing,” Liz Garner, director of government relations, FMI said. “The FTC’s proactive efforts will undoubtedly help keep networks and financial institutions from skirting the new regulations, and will provide a critical outlet for merchants to report any concerns.”
Many of the big banks represent upwards of $50 million in consumer and small business accounts, so FTC has made available materials to help navigate the reforms and help retailers provide savings for their customers.
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