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National Restaurant Association - You did it! Senate moves forward on swipe-fee reforms

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You did it! Senate moves forward on swipe-fee reforms

You did it! The Senate voted today to move forward on swipe-fee reforms for restaurants and other merchants.

We are thrilled to report that the National Restaurant Association and the nation's nearly 1 million restaurants today scored a major victory on behalf of America's restaurants and their customers in the fight for fair debit-card fees.

Thank you to all our members who called, wrote, e-mailed and met with your lawmakers on this issue. YOU MADE A DIFFERENCE.

The U.S. Senate voted this afternoon AGAINST delaying new reforms in debit-card swipe fees. Senators who wanted to postpone the rules, led by Sens. Jon Tester (D-Mont.) and Bob Corker (R-Tenn.) could get only 54 of the 60 votes they needed to halt the new reforms. Forty-five senators supported the NRA and our allies in our fight to move the reforms forward.

This means the Federal Reserve can quickly move forward with the reforms Congress ordered last summer -- reforms aimed at fixing a broken debit-fee market and making sure that the fees merchants pay are reasonable and proportional to what it actually costs to process debit-card transactions.

The Fed's new rule could dramatically scale back debit-card swipe fees for merchants. The rule is due to take effect July 21, although its final shape is not yet known. The NRA is monitoring this closely.

The card-fee fight is one of the toughest battles the NRA and its members have fought. We've teamed up with other merchants across the country for nearly a decade to bring an end to unfair merchant fees. Our fight pits America's small businesses and merchants against Visa, MasterCard and the big banks -- and today we made a major step forward in the continued fight for fair fees.

We encourage you to thank the 45 senators who stood up for us and kept the reforms moving forward. See how your senators voted here. A "NAY" vote (that is, a vote AGAINST delay) supported the National Restaurant Association's position.

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