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May 29, 2026
NFIB sent a letter urging Treasury to stop new swipe fee rule
What it means: NFIB submitted a letter opposing a new interim rule that stops states from placing limits on swipe fees for small businesses.
Our take: As one of the highest overhead costs for small businesses, this new interim rule will only increase these costs for millions of business owners. NFIB opposes this rule and will continue to fight the lack of competition in credit card swipe fees.
Take Action: Tell lawmakers how credit card competition would help drive down swipe fee costs for your small business.
With 92% of NFIB’s members believing that small businesses should have the right to choose among multiple credit card processing networks, credit card swipe fees remain one of the highest overhead costs for small business owners. NFIB sent a letter opposing a new rule that will increase swipe fees.
The Office of the Comptroller of the Currency (OCC) released an interim final rule that allows credit card processors to set swipe fees while blocking state laws from addressing rapidly increasing fees. NFIB sent a letter to the Department of the Treasury in strong opposition to this ruling. In the letter, Beth Milito, Vice President and Executive Director of NFIB’s Small Business Legal Center, details why card processors should not be allowed to set swipe fees for banks and how this anti-competitive relationship acts to drive up costs on millions of businesses and consumers.
NFIB Senior Vice President of Advocacy, Adam Temple, also produced an opinion piece published in RealClear Politics urging lawmakers to support the bipartisan Credit Card Competition Act. Read the full letter to the Department of the Treasury for more insight.
Take Action: Urge lawmakers to pass the Credit Card Competition Act to give business owners freedom of choice with their credit card processor.
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NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.
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