Merchants Welcome CFPB Director's Concern About Lack of Competition Over Credit Card 'Swipe' Fees
MPC welcomed remarks made by Consumer Financial Protection Bureau Director Rohit Chopra expressing concern about the lack of competition over credit card “swipe” fees.
READ MORE +
Credit Card 'Swipe' Fees Could Cost Consumers $20 Billion During Holiday Season Shopping
Rising swipe fees banks charge merchants to process credit card transactions could cost consumers nearly $20 billion in higher prices – and maybe more – this holiday season, MPC said.
READ MORE +
MPC Backs Durbin Call for Promised Vote on Credit Card Competition Act
MPC joined Senator Richard Durbin, in calling for the Senate to vote on the Credit Card Competition Act, saying "Small businesses and families can’t afford to suffer another day under these outrageous fees.”
READ MORE +
Credit Card 'Swipe' Fees Drive Up Thanksgiving Costs
Rising credit card “swipe” fees will contribute significantly to the cost of celebrating Thanksgiving this year regardless of whether families stay home, eat out or travel, MPC said.
READ MORE +
Rising Visa/Mastercard Fraud Rate Shows Need for Credit Card Competition Act to Protect Consumers
An increase in fraud rates on Visa and Mastercard’s networks shows the need to pass the Credit Card Competition Act to provide merchants with more secure options for routing consumer transactions, MPC said.
READ MORE +
Merchants Say Credit Card Competition Act is Needed to Keep China Out of U.S. Payments
The Credit Card Competition Act is the only legislative proposal that would bar China’s credit card network, China UnionPay, from the U.S. payments market, MPC told Congress in a letter.
READ MORE +
Stunning Visa and Mastercard Profit Margins Prove Credit Card Market is Broken
Soaring profits reported by Visa and Mastercard this week are further evidence the credit card market is broken and not competitive, MPC said.
READ MORE +
Merchants Call Fed Plan to Revise Debit Card Swipe Fee Regulation 'A Step in the Right Direction' But Not Enough
A long-awaited reduction in the “swipe” fees large banks are allowed to charge merchants to process debit card transactions proposed today by the Federal Reserve is welcome but doesn’t go far enough, MPC said.
READ MORE +
Merchants Welcome Fed Plan to Consider Revising Debit Card Swipe Fee Regulation
The Merchants Payments Coalition welcomed today’s announcement that the Federal Reserve Board of Governors will meet next week to consider revising its 12-year-old regulation on debit card swipe fees
READ MORE +
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.
READ MORE +