The Durbin Amendment, a.k.a. “merchant markup,” allows big box retailers to pocket $8 billion dollars a year from customers’ purchases. That’s $32 billion since Congress passed this law and retail groups are looking to increase their merchant markup even more.
Additionally, big box retailers are not held to any federal standards to protect their customers, yet 90% of consumers agree they should be held to similar standards as banks and financial institutions when it comes to keeping customer data secure and private. The Data Security Act of 2015 would help protect consumers but retailers are fighting the bill to increase their bottom line. It’s time to put consumers first.