SIGMA and NACS are pushing legislation that addresses the more than $48 billion that Americans annually pay in credit card swipe fees, and we strongly believe that 2010 will be the year in which interchange reform is achieved. However, to accomplish this we need to light a grassroots fire across the nation. Please click here to see a letter from Hank Armour, President and CEO of NACS, that explains the campaign. A contribution form is also available if you’d like to help offset the costs associated with this effort.  To help you participate, we have created a helpful website: www.nacsonline.com/fightswipefees through which you can download the campaign materials and have them reproduced at your local printer to help spread the word. Feel free to call the SIGMA office with questions: 703-709-7000.

The Energy Independence and Security Act (EISA) enacted in December, 2007, required the Federal Trade Commission to promulgate rules and regulations governing “market manipulation” in the “wholesale” sale of petroleum products.  Steptoe and Johnson has prepared a memorandum that details the legislative and regulatory background on EISA’s mandate, SIGMA’s involvement, and the final rule, which was published in the Federal Register on August 12, 2009. You can read the memo at www.sigma.org.

After a dramatic day of debate on Friday, June 26, the U.S. House of Representatives passed H.R. 2454, the American Clean Energy and Security Act of 2009, by a vote of 219 -212.  SIGMA will be providing additional details on the legislation soon.