Anyway, that's a long introduction to the point of this post. On the CUDE listserv the other day Danielle posted her frustration with the way Dick Durbin's interchange amendment has been discussed publicly by merchants. The basic argument on their side is that interchange (or swipe) fees are simply another case of meaningless profiteering by financial institutions.
Danielle has had enough, and posted what I think is a very clever way to fight back:
"My new protest weapon against interchange: My own checkbook. Specifically, my ability to give big box retailers precisely what they are purportedly after...a return to the good old days of the expenses of dealing with cash and checks.
I resolve to dig out my checkbook from under the dust bunnies and walk into a big box retailer, select about $10 worth of items to purchase...and proceed to the checkout counter with only my checkbook in my hand and my driver's license buried deep at the bottom of my purse where I'll have to spend a minute or so searching for it.
I'd love to get 25 or 30 of my closest CU friends to join me. I'd love to have others across the country do the same. I'd love it even more if we made it such a concerted event in different locales that we could REALLY get our local media to pay attention and bring a camera to watch how much people adore having their checkout lines clogged up with people paying by check.
I've read the interchange compromise summary. I've watched the hearings. I know this particular battle may not be won. But at least we can make a loud enough point about it that when consumers start seeing their account fees rising, we can give them certain legislators' contact information so they know who to thank for it."
I love this idea. I hope you do as well, and will join us on this.
(Now if I could only find that checkbook...)