Consumer and Merchant Groups Urge Senate to Reject Bill Delaying Fed Action on Debit Card Swipe Fees
More than 200 state and national organizations representing consumers and merchants called on the Senate to reject legislation that would delay the Federal Reserve’s proposal to reduce how much big banks are allowed to charge to process debit card transactions.
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Merchants Welcome Judge’s Statements Indicating Likely Rejection of Proposed Visa/Mastercard Swipe Fee Settlement
MPC welcomed comments by a federal judge indicating that she is likely to reject a proposed class action settlement over Visa and Mastercard credit card “swipe” fees.
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Opposition to Proposed Visa/Mastercard Swipe Fee Settlement at Court Hearing Shows Need for CCCA
Strong opposition from merchants voiced at a hearing on a proposed class action settlement over Visa and Mastercard credit card “swipe” fees shows the need for Congress to pass the Credit Card Competition Act, MPC said.
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Credit Card ‘Swipe’ Fees Could Cost Consumers Over $500 Million for Father’s Day
High “swipe” fees that credit card networks and banks charge merchants to process transactions could cost consumers more than $500 million this Father’s Day, MPC said.
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EBay Move to Drop Amex Shows Need to Address Swipe Fees
This week’s announcement that eBay will stop accepting American Express credit cards because of high “swipe” fees charged to merchants to process transactions shows the need for Congress to address swipe fees, MPC said.
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Outdoor Hospitality Industry Joins Merchants Payments Coalition
MPC announced that OHI, the national voice of the Outdoor Hospitality Industry, which represents recreational vehicle parks, campgrounds and “glamping” businesses, has joined the coalition.
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Merchants Say Allowing More Banks to Price-Fix Debit Card Swipe Fees Would Cost Consumers Billions
MPC called on the House Financial Services Committee to reject a legislative proposal that would allow scores of large banks to price-fix their debit card swipe fees, saying the move could cost consumers as much as $5 billion.
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Merchants Tell Fed Debit Card Swipe Fees Should Be Competitive
MPC told the Federal Reserve that a proposed reduction in high “swipe” fees large banks charge merchants to process debit card transactions is welcome but still provides banks with huge profit margins that no competitive business in the nation could charge.
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Merchants Agree With Durbin That Banks and Airlines Are Undermining Credit Card Rewards
MPC agreed with Senator Richard Durbin that airline industry practices are the biggest threat to credit card rewards and that more competition would help consumers earn better benefits and savings.
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Merchants Back Marshall Call to Pass Credit Card ‘Swipe’ Fee Legislation
MPC welcomed Senator Roger Marshall’s call for Congress to pass the Credit Card Competition Act.
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