MPC Hill Blast: Justice Departments Under Democratic and Republican Administrations Have Condemned Visa’s Monopolization of the Market
The Justice Department recently filed a sweeping antitrust lawsuit against Visa. The complaint alleges that Visa has been monopolizing the debit card market, paying rivals not to innovate or compete with them, and extracting fees that inflate prices of “nearly everything.”
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MPC Hill Blast: 'Visa Wanted a Vast Empire. First, it had to beat back its foes.' – WSJ
On October 19th, the Wall Street Journal published an expose on how Visa used its market power to block competition in the credit card market. The findings are eye-opening and, along with the recent Department of Justice lawsuit against Visa, add to the growing evidence of the lack of a free market in the space.
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MPC Hill Blast: The DOJ has sued Visa for antitrust law violations on debit cards
The Department of Justice has sued Visa for antitrust law violations on debit cards.
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MPC Radio Ad: Senator Marshall says CCCA Will 'End the Grip Visa and Mastercard Have on Us'
Senator Roger Marshall says, "Every time you use your credit card, they charge you a hidden fee called a swipe fee, and they've been raising it without even telling you." The Credit Card Competition Act "would help end the grip Visa and Mastercard have on us" but "I need your help to get this passed. I'm asking you to call your Senators today and demand they pass the Credit Card Competition Act."
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MPC Hill Blast: Hotel Owners Know Competition Will Improve Credit Cards
Check out this article from Laura Lee Blake, President and CEO of the Asian American Hotel Owners Association whose 20,000 members own 60 percent of U.S. hotels.
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MPC Hill Blast: Facts Get in the Way
The giant Wall Street Banks fund a lot of groups. One of them is the Bank Policy Institute (whose Board includes the CEOs of JPMorgan Chase, Bank of America, Citi, and Wells Fargo, among others).
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MPC Hill Blast: The Rest of the Story
With a nod to the late Paul Harvey, The Capitol Forum has given us the hidden background on the big banks’ misdirection on credit card rewards.
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MPC Hill Blast: Major IT Outages Ground Flights, Hits Banks and Businesses Worldwide
As everyone learned, and many experienced first-hand, last week a flawed update from the cybersecurity software firm Crowdstrike disrupted operations at companies of all kinds throughout much of the world.
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MPC Hill Blast: The Blame Game
Big Wall Street banks love to jack up fees on consumers. And they like to blame anything else they can for their decisions to do so.
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Congressional Hearings Examining Credit Card Swipe Fees
Congress has held 17 hearings examining credit card swipe fees over the past 18 years.
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