Merchants Welcome Vance Support for Credit Card Swipe Fee Reform
MPC welcomed Vice President J.D. Vance’s call for credit card swipe fee reform, which came amid growing White House and congressional support for action to keep the hidden fees from driving up prices for consumers.
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Nearly 1,000 Merchants Tell Judge Proposed Settlement of Visa/Mastercard Lawsuit is ‘Riddled With Loopholes’
MPC said today that nearly 1,000 businesses and trade associations have called on a federal judge to reject the proposed settlement of merchants’ lawsuit over Visa and Mastercard credit card swipe fees that drive up consumer prices, saying the deal fails to provide adequate relief.
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Merchants Welcome Trump Backing of Credit Card Swipe Fee Reform at GOP Midterm Convention
MPC welcomed President Donald Trump’s latest call for credit card swipe fee reform, which took place at the Republican midterm convention in Dallas.
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Visa and Mastercard Stocks Hit Record Highs as Merchants and Consumers Face Soaring Credit Card Swipe Fees
Visa and Mastercard stock prices hit record highs this week, showing further evidence of the need for Congress to address soaring credit card swipe fees, MPC said.
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Merchants Welcome New Senate Cosponsors of Credit Card Competition Act
MPC welcomed the addition of three new Senate sponsors of the Credit Card Competition Act.
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Merchants Support Durbin’s Call for ‘Crackdown’ on Hidden Credit Card Swipe Fees
MPC backed Senator Dick Durbin’s new call for action on rising credit card swipe fees, which he said are hidden from consumers who ultimately pay higher prices because of them.
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Merchants Welcome Trump’s Continued Backing of Credit Card Swipe Fee Legislation
MPC thanked President Donald Trump for reiterating his support for the Credit Card Competition Act.
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Visa and Mastercard Follow Megabanks in Reporting Huge Profits Fueled by Soaring Credit Card Swipe Fees
The nation’s two largest credit card networks reported mammoth profits this week even as many small businesses and consumers continue to struggle with affordability, MPC said.
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Credit Card ‘Swipe’ Fees Drain $3.4 Billion from Families’ Back-to-School Spending This Year
“Swipe” fees banks charge merchants to process credit card transactions will drive up the price of school and college supplies by a record $3.4 billion this year and cost the average family as much as $34, MPC said.
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Merchants Say Reports That ‘Banks Smash Earnings Records’ Show Need to Address Credit Card Swipe Fees
Double-digit increases in profits reported by some of the nation’s largest credit card-issuing banks show the need to end the “swipe fee ripoff,” MPC said.
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