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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Nearly 2,000 Companies and 270 Trade Associations Call for Passage of Credit Card Competition Act
Close to 2,000 companies and a total of 270 trade associations from across the country signed letters this week calling on Congress to pass the Credit Card Competition Act, the Merchants Payments Coalition said.
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Merchants Say Reintroduced Credit Card Competition Act Would Save Businesses and Consumers Billions
MPC welcomed reintroduction of the Credit Card Competition Act, saying the measure would provide relief from billions of dollars in rapidly rising “swipe” fees that drive up prices for consumers.
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U.S. Merchants Say Canadian Deal Shows Credit Card Swipe Fees Could be Lowered Here
MPC said an agreement in Canada to lower credit card “swipe” fees shows that the fees could be reduced in the United States as well.
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Credit Card Fees Could Cost Consumers Almost $800 Million for Mother's Day
Rising “swipe” fees big banks and credit card networks charge merchants to process transactions could cost consumers nearly $800 million this Mother’s Day, MPC said.
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Merchants Say Record JPMorgan Revenues Show Need to Address Swipe Fees
MPC says record first-quarter revenue and near-record profits at JPMorgan Chase, the nation’s largest credit card issuer, show the need for Congress to pass the Credit Card Competition Act.
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