If you’re a retailer, the headline alone was all you needed to sit up and pay attention. There’s no greater frustration (well, maybe a small few greater frustrations) than sorting through your monthly merchant account statement, then realizing just how much all those nickle and dime fees add up to each month. Even more unnerving are the fees attached to debit cards—a financial tool that doesn’t even require credit extension (read: risk) on the part of banks, since if the money’s there, the transaction goes through. If it’s not, well, according to the new credit card rules, no go, Joe.
Rather than reiterate what’s been written elsewhere, here’s a link to an article that ran on the Home Accents Today website (thanks, Wes Kennedy, for the tip via Twitter). Read up, the grab a pen and write your Senator. This is one of those times retailers’ voices need to be heard, loud and clear.
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