Washington, D.C. – The Nationwide Grocers Affiliation (NGA), which represents the unbiased grocery store business, issued the next assertion relating to the court docket’s preliminary approval of the proposed Visa and Mastercard bank card swipe price settlement:
“The Nationwide Grocers Affiliation is disenchanted that the court docket has chosen to not deal with the affordable issues raised by objectors and enhance the proposed B2 settlement in a means that might meaningfully enhance competitors and scale back swipe charges for retailers and customers.
“At a time when households are targeted on affordability, Visa, Mastercard, and the nation’s largest banks proceed to profit from an absence of competitors within the bank card funds market. Congress ought to act by passing the bipartisan Credit score Card Competitors Act (CCCA), a commonsense answer that might enhance competitors, assist decrease prices, and ship financial savings for customers and Major Avenue companies alike. With bipartisan help in Congress and the endorsement of President Trump, lawmakers ought to seize this chance to ship significant reform by passing the CCCA.”
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Concerning the Nationwide Grocers Affiliation
NGA is the nationwide commerce affiliation representing the retail and wholesale neighborhood grocers that comprise the unbiased sector of the meals distribution business. An unbiased retailer is a privately owned or managed meals retail firm working a wide range of codecs. The unbiased grocery sector is accountable for about 1.2 % of the nation’s general financial system and is accountable for producing greater than $250 billion in gross sales, 1.1 million jobs, $39 billion in wages and $36 billion in taxes. NGA members embrace retail and wholesale grocers positioned in each congressional district throughout the nation, in addition to state grocers’ associations, producers and repair suppliers. For extra details about NGA, go to www.nationalgrocers.org.
