PA Swipe Fee Efforts Halted

Yesterday, CrossState, the PA Bankers, and the PA Association of Community Bankers met with the PA House Majority Finance Committee Director (Director) to discuss concerns about pending legislation that would prohibit interchange on the sales tax portion of electronic transactions. From the conversation, the Director made it clear that forthcoming legislation will not be added to any committee agenda. 

CrossState visits to House Finance Committee members, credit union contacts, and the Electronic Payment Coalition (EPC) testimony at last week’s hearing made it very clear to the Director and Committee Chair that there is much more to the story than what the merchant community shared. 

There will be further discussions on swipe fees in the new year. CrossState will be dedicated to continued outreach efforts to prevent the introduction of legislation. 

Thank you to those credit unions who answered CrossState’s calls to action. Your support was instrumental in educating all finance committee members about the negative repercussions swipe fee legislation would have on consumers, small businesses, and credit unions.