Swipe-fee rollback hurts small business

As a business owner, I spend most of my time focused on my business, my clients and my employees. And, it seems we keep hearing that the government wants to create jobs and spur the economy. Yet, I recently read that Washington, D.C., is considering rolling back legislation that was specifically designed to help small businesses.

Swipe fees impact my own business and my clients that I work with on a daily basis.

I understand the risk that banks and credit cards take, but a 300 percent increase over the last decade is unsustainable. I’m not sure there are any businesses that can absorb that kind of increased costs, especially in this economy.

Sen. Dick Durbin’s Amendment that was included in the Wall Street Reform Act passed by Congress and signed into law last year fixed this issue for small businesses. Now, I understand the House and Senate have introduced legislation to roll back this law on behalf of major banks and credit card companies. I think our lawmakers in Washington need to represent us.

I’m not sure how we can support job creation then expect small businesses like me — and my clients — to employ more people when we have to pay these high costs. There needs to be balance.

Olga Obolonskaya

Northbrook