Billboard: JCN Tells Wall Street to ‘Shove It’
The Job Creators Network erected a new billboard in the heart of Times Square highlighting the need to pass credit card reform for small businesses. Currently, small businesses are being held hostage by Visa, Mastercard, and the big banks, which are charging Main Street entrepreneurs sky-high fees every time a customer uses a credit card. Last year, businesses forked over nearly $130 billion to cover the credit card “hidden tax.”
Federal legislation has been introduced that would help rein in “swipe fees” by leveraging the power of the free market. The bill—called the Credit Card Competition Act—would foster competition within the payments arena and provide small businesses with alternative options on how to process credit card purchases. Members of both the Republican and Democratic caucuses are urging leadership to bring the bill to a floor vote.
The Times Square billboard, which features a Wall Street banker clutching a bag overflowing with cash, reads “TELL WALL STREET TO SHOVE IT” and continues, “Big banks, Visa, and Mastercard cost families $1,000 a year in credit card fees and are crippling small businesses.” The ad concludes, “Tell your representative to pass the Credit Card Competition Act!”
See the billboard here.