Merchants Welcome Durbin Call to ‘Get This Done’ After Trump Endorsement of Credit Card Competition Act
MPC welcomed remarks made by Senator Dick Durbin on the Senate floor as he called for passage of the Credit Card Competition Act two days after the measure was endorsed by President Donald Trump.
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Merchants Praise Congressional Reintroduction of the Credit Card Competition Act
The Merchants Payments Coalition praised the House and Senate reintroduction today of the bipartisan Credit Card Competition Act, which would force giant credit card companies to compete for business rather than simply gouging Main Street and its customers with high credit card swipe fees.
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Merchants Thank President Trump for Championing Main Street and Its Customers
The Merchants Payments Coalition today applauded President Trump’s strong words of support for the Credit Card Competition Act.
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Fed Report Shows Visa, Mastercard Shift More Debit Card Fraud Onto Merchants
A biennial report just released by the Federal Reserve shows that Visa and Mastercard shifted more of the burden of debit card fraud onto the merchants, while easing responsibility for banks. The updated figures for 2023 show that merchants paid for 49.9% of debit card fraud in 2023 — up from 46.9% in 2021. During the same period, the amount paid by banks dropped from 33.4% to 28.3%.
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Merchants Ask Fed to Reject Banks’ ‘Stall Tactic’ on Reducing Billions in Debit Card Swipe Fees
The Merchants Payments Coalition and member trade associations today urged the Federal Reserve to turn down banks’ latest request that the agency drop a proposal to reduce the billions of dollars in “swipe” fees big banks charge to process debit card transactions. MPC encouraged the Fed to finally adopt the reduction instead.
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Credit Card ‘Swipe’ Fees Could Cost Consumers $20 Billion Or More During 2025 Holiday Season
Rising “swipe” fees banks charge merchants to process credit card transactions could cost consumers nearly $20 billion or more in higher prices this holiday season, MPC said.
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Merchants Say Reported Credit Card Swipe Fee Settlement Proposal ‘Fails Once Again and Should be Rejected’
MPC said a proposed settlement reportedly expected to be released soon in longstanding antitrust litigation over Visa and Mastercard’s credit card “swipe” fee practices fails to overcome U.S. District Judge Margo Brodie’s reasons for rejecting the last settlement and should also be rejected.
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MPC Backs Merchants’ Call for Court to Uphold Illinois’ Ban on Swipe Fees on Sales Tax and Tips
Attorneys representing merchants urged a federal judge to reject banks’ lawsuit seeking to overturn Illinois’ ban on swipe fees on sales tax and tips.
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Big-Bank Profits Rising as Merchants And Consumers Seek Relief from Credit Card ‘Swipe’ Fees
Rapidly rising profits at four of the nation’s largest banks show the need for Congress to address the growing credit card “swipe” fees banks charge merchants to process transactions, MPC said.
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Credit Card ‘Swipe’ Fees Account for Over $300 Million of Halloween Costs This Year
“Swipe” fees banks charge merchants to process credit card transactions will drive up the price of Halloween items by more than $300 million this year, MPC said.
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