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Log In / Register | Jun 24, 2017

Financial Choice Act Passes House, Swipe Fee Reform Protected

H.R. 10, The Financial Choice Act of 2017, passed the House of Representatives today, after a substitute amendment was filed by the bill sponsor earlier in the week.  The purpose of H.R. 10 is to repeal most of the regulations from the Dodd-Frank Act passed in 2010.

The substitute amendment made technical changes, including removing the language repealing the Durbin Amendment. Swipe Fee Reform has been preserved!  A huge victory for all merchants, including franchisees. We need to especially thank our good friend Rep. Bruce Poliquin (ME-2) for leading this effort from the beginning. We also need to thank Rep. Dennis Ross (FL-15) and Rep. David Young (IA-3) who's efforts ensured the amendment protected these reforms. Feel free to let their offices know. It's a tough political world these days, don't forget to say thanks to those that support our causes, especially if you reside in their district.

Rep. Poliquin   (202) 225-6306

Rep. Ross        (202) 225-1252

Rep. Young      (202) 225-5476

 

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