WASHINGTON, DC – Today, the Hispanic Leadership Fund (HLF), a public policy advocacy organization that promotes liberty, opportunity, and prosperity, launched a bilingual streaming radio advertising campaign in multiple states encouraging constituents to contact U.S. Senators in support of the Credit Card Competition Act (CCCA). The month-long campaign features ads in Arizona, Colorado, Florida, New Mexico, Nevada and New York.
The CCCA seeks to reduce hidden Swipe Fees, the charges that are passed on to consumers every time they use a credit card to pay for goods and services. In 2022 alone Swipe Fees cost the average American family more than $1,000. “Swipe Fees are costing hard working families real money and hurting small businesses across the country,” said Mario H. Lopez, HLF President. “Through this significant ad campaign, we aim to empower constituents to voice their support for fair financial practices and encourage their Senators to back important reforms aimed at reducing Swipe Fees.”
Swipe Fees have more than doubled over the past decade. The fee amount is a percentage of the total transaction cost, which means that swipe fees go up even faster during times of higher inflation. Reforms like those in the CCCA will establish a more competitive market, which will lower the costs of goods and services down and reduce the burden on consumers and small business owners.
Last year HLF conducted in depth research on the impact of Swipe Fees, finding that they hit those least able to afford it the hardest. That conclusion was later supported by analysis done by the Board of Governors of the Federal Reserve System.
Ad listeners are encouraged to visit ReduceSwipeFees.com for more information on Swipe Fees and the Credit Card Competition Act.
