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Dear Editor:
Ohio's families and small businesses are that much closer to seeing some financial relief thanks to Senator Bernie Moreno's recent decision to become a cosponsor of the Credit Card Competition Act (CCCA). We're glad to have an elected official putting Main Street's concerns over Wall Street's bottom line.
For businesses already stretched thin by other operational expenses, the swipe fees charged on each credit card transaction accumulate rapidly and are a major burden on local shops. As a result, many owners pass that burden down to their customers through credit card bans or raised prices. Business owners don't want to do this, but they are left with no choice, hitting hard-working families the hardest during a time when day-to-day necessities are increasingly expensive.
As one of the first Senate Banking Committee members to back this bill, Senator Moreno is showing true leadership. He is championing the return of competition into a market sorely in need of it. Under the CCCA, small businesses would have some long-overdue leverage over the Visa-Mastercard duopoly that's controlled credit card routing for decades.
The CCCA is a common-sense bill that puts money back in the pockets of Ohioans who earned it, and Senator Moreno has shown he understands that. Thank you, Senator Moreno, for standing up for Ohio's small businesses and the people you represent.
Sincerely,
John R Morrow
Liverpool Township