Contact your state elected officials and request they *not* co-sponsor companion bills LRB-4436 or LRB-1512, relating to: fees imposed on merchants in connection with credit card transactions.
This proposal, authored by Sen. Dan Feyen (R- Fond du Lac) and Rep. Tyler Vorpagel (R-Plymouth), would be very harmful to Wisconsin's financial institutions and create a mandate our members would not be able to implement. Under the bill, it would be illegal to charge a merchant (retailer) a swipe fee for the tax portion of a credit card transaction. This would require electronic payment systems to distinguish between the pre-tax sale total and the amount of tax applied to the sale, a distinction that cannot currently be made using existing technology.
Therefore, if this legislation is passed, our members would be stuck with a law they could not comply with and penalized for every violation.
Here is how you can help:
- Look up your state legislators by typing in your address here.
- Send your representative an email with the following information:
- State your name, that you are a banker, and that you are a constituent of their district.
- Ask that they not sign on as a co-sponsor of LRB-4436 or LRB-1512.
- Explain this is a mandate banks cannot comply with, and that government should not be interfering in contractual business agreements.
WBA and the Wisconsin Credit Union League sent a joint memo to the Legislature asking they not sign on to these bills. Feel free to use the memo as inspiration.
Thank you to the bankers who have already notified me they've contacted their elected officials!