Hardware Retailing: Senate to Vote on Credit Card Swipe Fees Bill
“Support for the Credit Card Competition Act is growing rapidly and we are confident it will pass once senators are given the chance to cast votes in favor of Main Street over Wall Street,” says MPC executive committee member and National Association of Convenience Stores general counsel Doug Kantor.
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American Prospect: Wall Street Stokes Culture War to Fight Swipe Fee Reform
“We see it as a small victory as the chorus of voices calling for reform grows louder and Washington is hearing us,” said Doug Kantor, the general counsel for the National Association of Convenience Stores, a member of the Merchants Payment Coalition. MPC led the charge to get legislation passed in 2010 that allowed for similar competition in debit card transactions, known as the Durbin Amendment. If leadership follows through on its promise to bring the CCCA to a vote, the coalition is confident they’ll have enough support to apply the same standard to credit cards.
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Kiplinger: Washington Takes Aim at Credit Card Processing Fees
In a letter sent to Congress, the MPC said the legislation would help fix “a broken market that has allowed Wall Street megabanks and global card networks to block competition and unfairly profit at the expense of Main Street merchants and American families for far too long.”
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CNBC: The Fight Over a Bill Targeting Card Fees Pits Payment Companies Against Retailers
Doug Kantor, a member of the Merchants Payments Coalition executive committee, remains “optimistic” that the Credit Card Competition Act could end up as an amendment attached to a larger piece of legislation at some point.
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Capitol Account: Banks vs. Retailers -- Both Sides Discuss Their Two-Decade War Over Credit Card Swipe Fees
Capitol Account: What is the Merchants Payments Coalition? MPC Executive Committee member Doug Kantor: It is virtually everybody you can think of on Main Street who accepts a card for payments. Grocery stores, restaurants, convenience stores, hotels, florists, bookstores – it goes on and on. All of these folks get hit with these huge fees that are set in an anti-competitive manner.
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Stationery Trends: Senate to Vote on Credit Card 'Swipe' Fee
The Merchants Payments Coalition welcomed the announcement by Senator Roger Marshall (R-Kan)., that the Senate plans to vote on the Credit Card Competition Act.
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The Hill: Love Your Credit Card Points? A Bill That May Change Them is Still on the Table
“I think it’s more clear that there will be a vote and people will have to vote on it. The only question is: when?” said Doug Kantor, general counsel at the National Association of Convenience Stores, in a phone interview. Kantor is also an executive committee member of the Merchant Payments Coalition of convenience stores, supermarkets and other businesses that support the bill.
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Furniture Today: Planned Vote on 'Swipe Fee' Bill Welcomed by Merchants Coalition
Doug Kantor, MPC executive committee member and National Assn. of Convenience Stores general counsel, responded on behalf of the organizations. “Support for the Credit Card Competition Act is growing rapidly, and we are confident it will pass once senators are given the chance to cast votes in favor of Main Street over Wall Street."
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Digital Transactions: The CCCA Won't Harm Card Issuers' Ability to Fund Rewards Cards, MPC Says
MPC Executive Committee member and National Association of Convenience Stores general counsel Doug Kantor contends the argument that passage of the CCA will hit cardholder rewards is a scare tactic aimed at getting consumers to pressure legislators to defeat the bill. “This seems to be a throw-the-spaghetti-against-the-wall approach and see what sticks,” Kantor tells Digital Transactions News. “Every industry has competition for business and there is no reason why one segment [of the card business] needs special protection.”
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Convenience Store News: New Study -- Credit Card Rewards Won't be Lost to Swipe Fee Bill Passage
In a paper released last week, global payments consulting firm CMSPI estimated that credit card rewards would be reduced by less than one-tenth of one percent "at most" if the legislation becomes law, according to the Merchants Payments Coalition.
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