Maryland lawmakers should support credit reforms | READER COMMENTARY

Maryland’s small businesses are grappling with mounting credit card “swipe fees,” a financial burden that is jeopardizing growth on Main Street. And to add insult to injury, another concern is emerging around U.S. payments systems: China. Visa and Mastercard are collaborating with China to rewrite the security standards that govern business and consumer financial data.

Fortunately, bipartisan federal legislation is being debated in Congress that would kill two birds with one stone. Called the Credit Card Competition Act, the bill would both lower the “swipe fees” small businesses like mine are forced to pay banks and credit card companies as well as block companies controlled by the Chinese Communist Party from accessing consumer payments (“Are travel loyalty programs at risk?” March 28).

I urge Maryland’s elected leaders in Washington, D.C. to support the legislation. The future of small businesses like mine and the security of our consumers depend on it.

— Julianne Sullivan, Annapolis

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