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Montana C-Store Owners Denounce State Senator

Montana convenience stores speak out on the efforts of a state senator. Montana c-store operators target U.S. Sen. Jon Tester, D-Mont., in a newspaper and TV ad, denouncing him for his 2011 effort to stall new limits on debit card “swipe fees” charged by banks, the Missoulian reported. The ads launched last weekend, claiming that

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Red Eagle Oil Auction to Resume

A U.S. Bankruptcy Court in Wyoming has approved Red Eagle Oil Inc. plan to sell off its retail assets. The company is offering its 15 convenience stores in Wyoming for sale individually, in groups or as a package. Under the bid procedures, parties have until May 2 to submit offers, court papers show. An auction

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NACS Issues an Urgent Industry Call to Action on Swipe Fee Reform

“We are locked in a difficult battle and we cannot afford to be defeated. Retailers must contact their senators and urge them vote against the Tester Amendment. If not, all of the hard work we have done over the past decade on swipe fee reform could be lost in an instant. Losing simply isn’t an

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Swipe Fee Fight Continues

NACS urges retailers to join it on Capital Hill to show support for the Durbin Amendment that regulates interchange fees. With a new Congress in session, the rule regulating interchange fees runs the risk of being overturned, and NACS is urging retailers to show their government the issue remains important to them. The Dodd-Frank Wall

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The Fight for Interchange Reform Continues

The long and winding road to controlling credit card fees took yet another turn on Oct. 12, 2010, when TCF National Bank, a subsidiary of TCF Financial Corp., filed a lawsuit challenging the constitutionality of the Durbin Amendment, which was included in the Wall Street Reform and Consumer Financial Protection Act of 2010, also known

Senate Passes Financial Reform

The convenience and petroleum retailing industry are now celebrating the end of a nearly 10-year battle to rein in interchange fees. Yesterday, July 15, the U.S. Senate voted 60 to 39 in support of the financial reform package known as the Dodd-Frank Bill that contains the crucial interchange amendment, NACS reported. Thursday’s vote was the

House Passes Swipe Fee Reform Bill

Last night, Wednesday, June 30, the House voted on the financial bill package, passing it by a vote of 237-192, with the swipe fee amendment intact, NACS reported. The bill was not without changes though. Earlier this week the Conference committee working on the financial services overhaul met again to alter aspects of the bill

Financial Reform Faces Crucial Vote

As the House and Senate prepare to vote on the financial reform bill—containing the Durbin amendment on interchange fees—this week, NACS’ message to retailers is that the battle is far from won. Three hurdles remain: passing the House, passing the Senate and getting signed into law by President Obama. “Until all three happen, actually, until

Agreement Reached On Interchange

Assistant Senate Majority Leader Dick Durbin (D-IL) and key conferees have reached an agreement on the Wall Street reform bill, regarding his amendment regulating interchange fees, NACS reported. The agreement makes minor, clarifying changes to the language, which passed the Senate 64 to 33 on May 13, and responds to concerns raised by state governments

Senate Passes Swipe Fee Reform

The U.S. Senate voted to include swipe fee reform in the Restoring American Financial Stability Act of 2010 through an amendment introduced by Sen. Richard Durbin. Specifically, the measure is expected to ensure that debit card transactions are reasonable and proportional to the cost of processing the transaction. “Tonight, the Senate stood up to the

New Interchange Amendment Needs Retailer Attention

More than 170 amendments have been filed to the financial regulatory reform bill now before the Senate, and to expedite the process, Majority Leader Harry Reid (D-NV) has asked senators to consolidate their amendments, NACS reported. On Monday night, Senate Majority Whip Richard Durbin (D-IL) filed a new amendment (#3932), merging the main provisions of

ATM Fee Reform Proposed

On May 4, Senator Tom Harkin (D-IA) introduced an amendment that would help consumers avoid high fees at ATMs, as the Senate began debate on the financial reform bill. “In recent years, Congress has acted to protect consumers by setting appropriate limits on the types of fees that financial institutions can charge consumers. However, one

Swipe Fee Fight Mounts

Building on 7-Eleven’s successful “Stop Unfair Credit Card Fees” consumer petition campaign, convenience store operators joined with U.S. Representatives Peter Welch and Bill Shuster to deliver an additional two million new customer signatures collected during the NACS “Stop Unfair Swipe Fees” campaign, which is asking Congress to put an end to unfair, hidden credit and

Interchange Debate Reaches Georgia Committee

The issue of interchange fees found an audience at the Georgia House Banks and Banking Committee, which listened to testimony last week on HB 1456-a bill that deals with the subject of interchange fees.   Often late session bills are buried in subcommittees, but significantly Committee Chairman James Mills, who co-sponsored the bill, allowed the

NACS Releases State of the Industry Report

C-store sales jumped 5% in 2009 despite the economic conditions, reduction in overall consumer spending. Convenience store in-store sales grew 4.9% in 2009, one of the lone bright spots in a battered U.S. economy that saw overall retail sales drop 7%, according to figures released today by NACS. The industry numbers were announced in Chicago

Kum & Go Fights Interchange Fees

Kum & Go, L.C. has collected more than 40,000 signatures from customers wanting to  control and reduce credit and debit card swipe (or interchange) fees put on customer transactions.  The signatures were collected in one month from all Kum & Go stores as part of NACS’ Fight Swipe Fees petition drive. “Kum & Go joined

Kum & Go Petition Gathers 40,000 Signatures

Kum & Go, L.C. has collected more than 40,000 signatures from customers wanting to control and reduce credit and debit card swipe (or interchange) fees put on customer transactions.   The signatures were collected in just one month from all Kum & Go stores as a part of the National Association of Convenience Stores (NACS)

Vermont State Offers Amendment on Interchange Fees

The state of Vermont is proposing an amendment to S. 138 being introduced today in the Vermont Senate. This amendment would allow merchants to set minimum and maximum transaction amounts for all debit, credit and charge card transactions, permitting them to reject a customer’s card. The Electronic Payments Coalition has spoken out against the amendment

Lessons Learned from Challenging Year

There’s no doubt that 2009 will go down as one of the most challenging years ever for the convenience store and petroleum industry. Combined with the poor economy that plagued marketers all year, credit card fees and tobacco regulations added fuel to a fire that, quite honestly, was already burning out of control. For this

Fighting Credit Card Costs

Is there relief ahead for exorbitant credit card fees? The answer is yes. But first, there’s a fight to be fought. According to NACS in Alexandria, Va., credit card payments have grown from 21% of transactions in 1995 to 49% today, with the trend expected to grow to more than 50% by next year. The

Dealers Making a Difference

Pride, hard work and HOPE. These are the three principles that drive Levent Sertbas every day. As president of Sertbas Inc. in Paramus, N.J., Sertbas has had to deal with a number of concerns while operating his two New Jersey On the Run convenience stores, but the two most pressing issues he’s been dealing with

Role of Technology Expanding

Whether it’s PCI compliance, overcoming high credit card fees or getting more out of a current point-of-sale (POS) system, investing in technology has never been more important for c-stores. With PCI compliance deadlines looming, many operators are still not up to speed on what they need to do, or how to do it. The Payment

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