Alexandria, VA - June 28, 2010
The U.S. Congress has reached a conference agreement on a final Wall Street reform bill to be voted on by both the House and Senate as soon as this week. One provision would protect consumers and small businesses from credit card companies' use of exorbitant transaction fees and anti-competitive rules. The National Community Pharmacists Association sent a letter to the lead negotiators in the conference pushing for the provision that was adopted. In response, Joseph H. Harmison, PD, National Community Pharmacists Association (NCPA) president and pharmacy owner in Arlington, TX, issued the following statement:
"NCPA, which represents approximately 23,000 independent community pharmacies that service 118 million patients, applauds Congress for including these protections in the final Wall Street reform bill issued. The credit card reforms have the support of a large bipartisan coalition in Congress, along with and an assortment of consumer and small business groups, including NCPA.
"If the bill becomes law, the constant spikes in fees for credit card transactions would be mitigated by regulations with real teeth in them. The legislation will hopefully result in reasonable transaction fees and restrict practices that threaten the financial viability of small businesses like independent community pharmacies, especially during these trying economic times."
The National Community Pharmacists Association (NCPA®) represents America's community pharmacists, including the owners of more than 22,700 independent community pharmacies, pharmacy franchises, and chains. Together they represent an $88 billion health-care marketplace, employ over 65,000 pharmacists, and dispense over 40% of all retail prescriptions. To learn more go to www.ncpanet.org or read NCPA's blog, The Dose, at http://ncpanet.wordpress.com.
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