In The News
July 27, 2023
“I think it’s more clear that there will be a vote and people will have to vote on it. The only question is: when?” said Doug Kantor, general counsel at the National Association of Convenience Stores, in a phone interview. Kantor is also an executive committee member of the Merchant Payments Coalition of convenience stores, supermarkets and other businesses that support the bill.
July 26, 2023
Doug Kantor, MPC executive committee member and National Assn. of Convenience Stores general counsel, responded on behalf of the organizations. “Support for the Credit Card Competition Act is growing rapidly, and we are confident it will pass once senators are given the chance to cast votes in favor of Main Street over Wall Street."
July 26, 2023
MPC welcomed the announcement by Senator Roger Marshall, R-Kan., that the Senate plans to vote on the Credit Card Competition Act.
July 25, 2023
MPC Executive Committee member and National Association of Convenience Stores general counsel Doug Kantor contends the argument that passage of the CCA will hit cardholder rewards is a scare tactic aimed at getting consumers to pressure legislators to defeat the bill. “This seems to be a throw-the-spaghetti-against-the-wall approach and see what sticks,” Kantor tells Digital Transactions News. “Every industry has competition for business and there is no reason why one segment [of the card business] needs special protection.”
July 24, 2023
In a paper released last week, global payments consulting firm CMSPI estimated that credit card rewards would be reduced by less than one-tenth of one percent "at most" if the legislation becomes law, according to the Merchants Payments Coalition.
July 24, 2023
MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor: “This is proof that claims that rewards would go away are nothing more than idle threats and scare tactics, the same as they have been in every market around the world where swipe fees have been addressed.”
July 24, 2023
This analysis shows the expected savings from competition over swipe fees would have almost no impact at all on credit card rewards and that the card industry has far more than enough profits to make up the difference,” MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor said.
July 24, 2023
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.
July 21, 2023
Credit card “swipe fees, the amount 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, according to a new report from the Merchants Payments Coalition
July 20, 2023
According to the Merchants Payments Coalition ... the growing number of parents using credit will cost each family about $20 in swipe fees out of the $890.07 the National Retail Federation expects them to spend on school items this year.