Chicago Sun-Times: Credit Card Swipe Fees Raise Costs for Businesses, Consumers. Congress Should Lower Those Fees
“[Swipe fees are] often the second- or third-highest expense our members have, and it is one they can’t negotiate,” Stephanie Martz, chief administrative officer and general counsel of the National Retail Federation (an MPC Executive Committee member), told us.
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Credit Unions Today: 'Time to Put Santa Ahead of the Grinch,' Merchants Groups Says, Urging Passage of Bill
“Rising swipe fees banks charge merchants to process credit card transactions could cost consumers nearly $20 billion in higher prices – and maybe more – this holiday season,” the Merchants Payments Coalition said.
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NACS Daily: Holiday Shopping Could Cost Consumers $20 Billion -- The Average Family Will Spending $20 on Swipe Fees This Holiday Season
“After a year of high inflation, the last thing consumers need is high credit card fees that make holiday purchases from toys to Christmas trees more expensive,” said Stephanie Martz, MPC executive committee member and National Retail Federation chief administrative officer and general counsel said. “Swipe fees charged by banks drive up the cost of everything Americans buy during the holidays and only Scrooge would think that’s fair as many families struggle to put smiles on children’s faces. It’s time to put Santa ahead of the Grinch and pass legislation to bring these fees under control.”
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WHP-TV: The Credit Card Competition Act... Will it Bring Down Prices or Kill Your Card's 'Rewards'?
That amount can range from 2, 3, even 4 percent of the transaction. The National Retail Federation is backing a new Bill that would make it more competitive. Stephanie Martz from the NRF (and MPC Executive Committee member) says “For our smaller members, swipe fee costs are often the 2nd or 3rd highest cost that they incur and it’s the only one they can’t negotiate.”
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Credit Card 'Swipe' Fees Could Cost Consumers $20 Billion During Holiday Season Shopping
Rising swipe fees banks charge merchants to process credit card transactions could cost consumers nearly $20 billion in higher prices – and maybe more – this holiday season, MPC said.
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Hardware Retailing: Merchants Payments Coalition Calls for Vote on Credit Card Competition Act
The Merchants Payments Coalition announced it has joined Senator Richard Durbin, D-Ill., in calling for the Senate to vote on the Credit Card Competition Act.
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Gifts and Decorative Accessories: Senator Durbin on the Floor -- Credit Card Competition Act Will 'Give a Fighting Chance to Small Businesses'
“We agree with Senator Durbin completely,” MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor said. “The sponsors of this legislation were promised a vote and it’s time to make good on that promise. Small businesses and families can’t afford to suffer another day under these outrageous fees.”
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Digital Transactions: With Time of the Essence, Arguments for and Against the CCCA Intensify
After Durbin’s remarks, the Merchant Payments Coalition, a merchant lobby that supports the CCCA, issued a statement agreeing with Durbin’s call that the bill be voted on by year’s end. “We agree with Senator Durbin completely,” MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor said in a statement. “The sponsors of this legislation were promised a vote, and it’s time to make good on that promise. Small businesses and families can’t afford to suffer another day under these outrageous fees.”
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Payments Dive: Durbin Bashes United Airlines in CCCA Fight
“The sponsors of this legislation were promised a vote and it’s time to make good on that promise,” National Association of Convenience Stores General Counsel Doug Kantor said in an emailed release. Kantor is also a member of the Merchants Payments Coalition, which has backed the bill, doing battle against banks’ lobbying organizations, including the Electronic Payments Coalition.
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MPC Backs Durbin Call for Promised Vote on Credit Card Competition Act
MPC joined Senator Richard Durbin, in calling for the Senate to vote on the Credit Card Competition Act, saying "Small businesses and families can’t afford to suffer another day under these outrageous fees.”
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