Next week the Senate will vote on legislation that threatens the viability of network branded prepaid cards. New additions to the Credit CARD Act (S. 414) by Senator Chuck Schumer (D-NY)would have a devastating effect on Prepaid Cards. The Schumer Amendment essentially restricts organizations involved in delivering network branded prepaid gift cards from assessing service fees and lengthens the expiration period on network branded prepaid gift cards in a manner that is virtually impossible to implement and would trigger great expense to U.S. merchants.
We urge you to send letters to your local senators as quickly as possible, and if you can, please copy or blind copy kathyt@nbpca.com so that we can aid in the follow up with the offices to reiterate the message.
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