Dodd-Frank Wall Street Reform and Consumer Protection Act To Bring Several Improvements For Small Business

July 22, 2010
Carol Tice, from Daily Dose, shares her analysis on some of the provisions of the financial reform bill and their impact on small business.

Tice listed the following as among the improvements the bill will bring:

* The right to decline credit and debit cards for small purchases

* Debit card interchange fees must be “reasonable” and proportional to the costs the card processing company incurs

* The right to offer discounts for cash payments instead

* Card networks cannot require merchants to use them exclusively – merchants must have a choice of at least two networks

As always, feel free to comment on your thoughts on the bill.

To read the full article go to: Finance Reform: A Mixed Bag for Small Businesses