Press Releases
June 08, 2023
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.
June 07, 2023
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.
May 19, 2023
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.
May 01, 2023
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.
April 24, 2023
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.
March 27, 2023
Rising “swipe” fees big banks and credit card networks charge merchants to process transactions could cost the average consumer the equivalent of a dozen eggs this Easter and potentially total over half a billion dollars nationwide, MPC said.
March 21, 2023
MPC called on Congress and the Federal Reserve to move quickly to address credit and debit card swipe fees, citing new data showing the fees increased dramatically again last year and now cost the average family over $1,000 a year.
February 14, 2023
MPC said the Federal Reserve should turn down a request from banks to delay implementation of its long-sought clarification that merchants’ right to choose which payment networks process debit card transactions applies the same online as it does in stores.
February 07, 2023
The Merchants Payments Coalition told a House committee holding a hearing on economic threats from China that passage of the Credit Card Competition Act is needed to keep China from “infiltrating” the U.S. payments processing market.
January 31, 2023
Rising swipe fees banks charge merchants to process credit and debit card transactions could potentially cost consumers over $500 million in higher prices for everything from cards and candy to roses and rings this Valentine’s Day, MPC said.