Reducing Your Business's Risk of Fraud Related Chargebacks
Credit card fraud affects all businesses, be they large or small. From major department stores to small mom and pop shops, statistics show that credit card chargebacks cost business owners millions of dollars each year.
Landrieu, Snowe Push for Increased Credit Card Protections for Small Firms
United States Senate Committee on Small Business and Entrepreneurship Chair Mary Landrieu, D-La., and Ranking Member Olympia J. Snowe, R-Maine, today introduced an amendment to the Credit CARD Act of 2009 that would expand both the underlying legislation and the Truth in Lending Act's credit card provisions to include small businesses with 50 or fewer employees. The amendment would also increase the current credit limit from $25,000 to $50,000 to adjust for inflation and the increasing number of small businesses with higher credit limits.
Landrieu-Snowe Amendment Critical to Senate Credit Card Bill
The National Small Business Association is urging the Senate to approve the Landrieu-Snowe Amendment to the Credit CARD Act of 2009 (H.R. 627/S. 414) in order to guarantee that small-business owners are fully protected by the critical safeguards included in the bill. Small business reliance on credit cards is at an all-time high with 59 percent of respondents to the recent NSBA Small Business Credit Card Survey (NSBA Survey) using credit cards to finance their business--up from 49 percent just four months ago.