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Credit Card Swipe Fees

All articles tagged with #credit card swipe fees

Polis extends veto streak with blocks on swipe-fee sales taxes, firefighter cancer protections, and immigration-suit bill
politics1 month ago

Polis extends veto streak with blocks on swipe-fee sales taxes, firefighter cancer protections, and immigration-suit bill

Colorado Gov. Jared Polis vetoed three bills, including a measure to bar credit card swipe fees on sales taxes starting in 2028, a bill expanding cancer protections for firefighters, and a proposal allowing Coloradans to sue federal immigration agents for constitutional rights violations. The vetoes raise his annual total to 12, surpassing his previous record. Supporters argue the swipe-fee ban would help small businesses; opponents warn of legal and feasibility issues. The firefighter-cancer bill faced cost and implementation concerns, while the immigration bill drew critiques about narrowing protections. Polis cited legal risk, costs, and the need for broader civil-rights protections in his decisions, with more vetoes possible before the session deadline.

The Devastating Impact of Credit Card Fees on Restaurants
business2 years ago

The Devastating Impact of Credit Card Fees on Restaurants

The Executive Vice President and Director of Operations of Main Street Management, T.J. Oakley, urges Senators Mitch McConnell and Rand Paul, along with the entire Kentucky delegation, to pass the Credit Card Competition Act (CCCA) to address the crushing impact of credit card swipe fees on restaurants and small businesses. With the top two credit networks controlling over 80% of the market, Oakley highlights the lack of competition and the burden of swipe fees, which add about 3% to every credit card transaction. The CCCA would require at least two competing networks on every credit card, introducing competition and potentially saving businesses and consumers an estimated $15 billion annually.