NACS says the Credit Card Fair Fee Act (H.R. 5546) is gaining momentum in light of a concerted effort by NACS, the Merchants Payments Coalition and a number of retailers nationwide.
The bill would provide retailers the ability to negotiate rates and terms with Visa and MasterCard. As of late this week, the bill has been co-sponsored by 21 representatives, in addition to the lead sponsors, House Judiciary Committee Chair John Conyers (D-Mich.) and Rep. Chris Cannon (R-Utah).
At the 2008 NACS SOI Summit in Chicago, industry leaders urged retailers to bolster support for the bill by writing legislators and encouraging them to become cosponsors.