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