Merchants Say Rising Megabank Profits Show Need to Address Swipe Fees
Huge profits reported by some of the nation’s largest card-issuing banks as credit card swipe fees continue to rise show the need for Congress to pass the Credit Card Competition Act, the Merchants Payments Coalition said.
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MPC, Durbin, Marshall and Welch Call for Passage of Credit Card Competition Act
“Thank you to Senators Durbin, Marshall, Welch and Vance for their tireless advocacy on behalf of Main Street businesses," MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor said. "We need Congress to follow the lead of these champions of Main Street. With Visa and Mastercard hiking fees and creating new ones just next month, it’s time to pass the Credit Card Competition Act.”
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Survey Finds Nearly Two-Thirds of Likely Voters Support Credit Card Swipe Fee Reform
Nearly two-thirds of likely voters support credit card swipe fee reform, according to a new survey released by MPC.
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Merchants Agree 'Enough is Enough' as Senators Address New Visa and Mastercard Credit Card Swipe Fee Hikes
MPC welcomed remarks on the Senate floor by sponsors of the Credit Card Competition Act addressing Visa and Mastercard’s reported plans to increase credit card swipe fees by more than $500 million beginning next month.
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Merchants Welcome Assurances for Senate Vote on Credit Card 'Swipe' Fee Bill
MPC 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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New Study Says 'Swipe' Fee Bill Would Not Lead to Loss of Credit Card Rewards
MPC welcomed new research showing passage of the Credit Card Competition Act should have virtually no impact on credit card rewards and that banks could easily afford to continue offering rewards.
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Credit Card 'Swipe' Fees Account for $3 Billion of Back-to-School Costs This Year
“Swipe” fees banks charge merchants to process credit card transactions will drive up the price of school and college supplies by more than $3 billion this year and cost the average family between $20 and $30, MPC said.
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AAHOA Joins Merchants Payments Coalition
MPC announced that the Asian American Hotel Owners Association has joined the coalition, adding to the ranks of merchant groups fighting for a competitive market for credit card “swipe” fees.
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Credit Card 'Swipe' Fees Could Drive Up Families' Fourth of July Costs by $500 Million
“Swipe” fees banks and card networks charge to process credit card transactions could drive up consumers’ cost of celebrating the Fourth of July by more than $500 million this year, MPC said.
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New Estimate Shows Credit Card Competition Act Would Save Merchants and Consumers $15 Billion a Year
MPC welcomed a new estimate showing that passage of the Credit Card Competition Act would save merchants and their customers at least $15 billion a year.
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