Hotel Owners Call Credit Card Swipe Fees ‘Worse Than What OPEC Does’
The Asian American Hotel Owners Association, a leading member of the Merchants Payments Coalition, is calling on Congress to pass the Credit Card Competition Act to bring down credit card “swipe” fees that drive up consumer prices.
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Yemeni American Merchants Say Some Small Businesses ‘Will Not Make It’ Under High Credit Card Swipe Fees
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Credit Card ‘Swipe’ Fees Could Cost Consumers Over $600 Million on Valentine’s Day
Rising swipe fees banks charge merchants to process credit and debit card transactions could cost consumers well over $600 million in higher prices for Valentine’s Day this year, MPC said.
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Merchants Back Maryland Legislation to Ban Credit Card Swipe Fees on Sales Tax
MPC voiced support for state legislation that would block credit card networks and banks from charging Maryland merchants “swipe” fees on the sales tax portion of transactions.
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Record Profits at Giant Card Issuer JPMorgan Chase Show Need to Address Credit Card Swipe Fees
As Congress focuses on huge profits in the credit card industry, record annual profits reported this week by the nation’s largest card issuer show the need for lawmakers to address soaring swipe fees charged to process transactions, MPC said.
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Merchants Ask Fed to Reject Bankers’ Request to Delay Action on Debit Card Swipe Fees
MPC urged the Federal Reserve to reject a request by the American Bankers Association to withdraw or delay action on the Fed’s proposal to reduce how much big banks are allowed to charge merchants to process debit card transactions. MPC encouraged the Fed to quickly finalize the proposal instead.
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Merchants Welcome Ruling That Visa and Mastercard Must Comply with Illinois Ban on Swipe Fees on Sales Tax
MPC welcomed a judge’s ruling that credit card payment networks like Visa and Mastercard must comply with Illinois’ ban on swipe fees on sales tax and tips.
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Credit Card ‘Swipe’ Fees Could Cost Consumers Over $20 Billion During Holiday Season Shopping
Swipe fees banks charge merchants to process credit card transactions are continuing to rise and could cost consumers well over $20 billion in higher prices this holiday season, according to MPC.
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Merchants Tell Senate Anticompetitive Credit Card ‘Swipe’ Fee System ‘Does Not Have to be This Way’
MPC testified before the Senate Judiciary Committee that rising credit card “swipe” fees cost small businesses and their customers billions of dollars each year and called for passage of the Credit Card Competition Act to bring the fees under control. “Most consumers are not aware of these fees or the effect they have on the cost of goods and services and the U.S. economy, but the effects are dramatic,” MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor said.
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Merchants Welcome Hearing on Out-of-Control Credit Card ‘Swipe’ Fees
MPC welcomed the announcement that the Senate Judiciary Committee will hold a hearing on rising credit card “swipe” fees that cost American small businesses and families billions of dollars each year.
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