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Capped Fees, Real Costs: The Impact on Small Businesses
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Join us for an in-depth conversation with Jess Ward, the Senior Director of State Affairs for the National Taxpayers Union
Ward works actively with legislators and policymakers to promote pro-taxpayer policy at the state and local levels. In this episode she discusses how elected officials in states such as Texas are seeking price controls on interchange fees - arguing that capping interchange fees will help small businesses and lower prices for consumers.
Ward explains why in reality, this would instead place the burden on the consumer, plus the following:
- How capping swipe fees can negatively affect small business owners.
- How reducing interchange fees can harm consumers by reducing credit card rewards.
- How banks rely on interchange fees to fund their credit card programs.
- Past examples of when lowering swipe fees failed.
Tune in and get informed on the real costs associated with capping interchange fees during this episode of The Business RoundUp!
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