Merchants Still Pushing for Credit Card ‘Swipe’ Fee Reform Following Surge of Support During Stablecoin Debate
MPC said members will continue to push for passage of the Credit Card Competition Act following a significant boost in momentum gained during Senate consideration of the GENIUS Act stablecoin bill.
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Bloomberg: Banks v. Retailers, Again
“We’re not giving up,” said Doug Kantor, an executive committee member of the Merchants Payments Coalition, whose members include the National Restaurant Association, the National Retail Federation and the National Grocers Association. “If we don’t get a vote here, there will be other opportunities we will pursue.”
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MPC Hill Blast: Broad, Overwhelming Support for the Marshall-Durbin Amendment
Support for the Marshall-Durbin Amendment/Credit Card Competition Act, which would create some much-needed competition for credit card companies where none exists today, is much broader than you might think.
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American Prospect: Crypto Thought They Bought Congress. They Bought a Headache.
Banks and credit unions are working against the amendment with their partners at the credit card firms, even getting Vice President JD Vance to support a “clean” GENIUS Act. Visa and Mastercard also have the support of the airlines, which over the years have become flying banks with branded credit cards. The Merchant Payments Coalition, on the other side, has worked for years to deal with “hidden credit card fees” that are affecting their members.
READ MORE +MPC Hill Blast: The Tell
There is a long history of detecting deception by finding the key inconsistency in what someone says. ...The latest example from the bank lobby is their overwrought protestations that adding the Marshall-Durbin Amendment (the Credit Card Competition Act) to the GENIUS Act would be a “poison pill” sinking the GENIUS Act.
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Digital Transactions: Battle Lines Harden Over a Proposed CCCA Amendment to the GENIUS Act
“Labor’s position is very clear here, some of the largest unions in the country support the CCCA,” says Doug Kantor, an executive committee member for the Merchants Payments Coalition and general counsel for the National Association of Convenience Stores. “While there are unions that do not support the amendment, they are tiny in comparison.”
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The West News: Credit Card Competition Act: A Closer Look at the Swipe-Fee Reform
Groups like the Merchants Payments Coalition say lower fees could translate to cheaper goods, or at least slower price increases.
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Merchants Say Endorsement by Unions Shows ‘People Who Work for a Living’ Want Credit Card Swipe Fee Reform
MPC welcomed the endorsement of the Credit Card Competition Act by four of the nation’s largest unions – the International Brotherhood of Teamsters, the Retail, Wholesale, Department Store Union, the Service Employees International Union and the United Food & Commercial Workers International Union.
READ MORE +MPC Hill Blast: Military Families Need the Marshall-Durbin Amendment
hat message has come through loud and clear from the American Logistics Association and the Armed Forces Marketing Council. Those two groups represent military PX stores.
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New York Times: How a crypto bill could clamp down on credit card fees
“There’s desperate need for a change,” Doug Kantor, an executive committee member of the Merchants Payments Coalition, told DealBook, “and the legislation itself is the lightest possible touch in terms of a change.”
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