Press Release (ePRNews.com) - SEATTLE - Feb 21, 2017 - Today, MAUI acts as the watchdog for the credit card processing industry. Their core objective is to put an end to unfair interchange practices by first quantifying the “hidden fees” that businesses pay and reporting them to the CFPB, and then to recover the “hidden fees” for businesses on a contingency basis. MAUI began providing data to lawmakers in 2009 in support of Senate Bill 1212, which led to The Card Act of 2009. Following The Card Act, MAUI supported the Durban Amendment, and Dodd Frank Act. The Dodd Frank Act created the Consumer Financial Protection Bureau.
“We have been working hard for years to bring regulation to the industry” says David Toney, Chairmen of MAUI “a repeal of Dodd Frank would be a huge step backwards as it would give banks even more ability to charge hidden fees! Several Senators are working hard to stop the repeal of Dodd Frank. I am excited that we have found a way to not only provide a quantifiable measure of support from the business community, but to help fund the initiatives and good work they do.”
MAUI intends to leverage its nationwide team of agents and existing client base to shine a light on the importance of keeping financial regulation in place that protects the interests of consumers and businesses.
MAUI is contacting businesses who accept credit cards and obtaining their merchant processing statements. Any “hidden” processing fees are quantified and sent to senators who are working to stop the repeal of Dodd Frank Act. In addition, 10% of the net revenues derived from recovering the “hidden fees” is being donated to the political initiatives designed to stop the repeal of the Dodd Frank Act.
“What makes this concept so great,” says Toney “is that we aren’t asking businesses to open their wallets. We are asking them to help raise money by saving money.”
For more information contact PR@interchangebrokers.com or visit www.stophiddenfees.us. Source :
The Interchange Brokerage company