Credit Card ‘Swipe’ Fees Could Cost Consumers Nearly $578 Million on Valentine’s Day
Rising swipe fees banks charge merchants to process credit and debit card transactions could cost consumers almost $578 million in higher prices as they celebrate Valentine’s Day this year, MPC said.
READ MORE +TV Ad Says Swipe Fees Are ‘Taking a Swipe’ at Consumers
Big banks are “taking a swipe” at consumers with credit card swipe fees that cost the average family over $1,000 a year, according to a new TV commercial unveiled by MPC.
READ MORE +Merchants Call Credit Card 'Swipe' Fees Biggest Bank Scam
Credit and debit card “swipe” fees are among the issues Congress should examine as lawmakers look into banking scams, MPC said.
READ MORE +Merchants Say Record JPMorgan Chase Profits Show Need to Pass Credit Card Competition Act
Record annual profits reported last week by the nation’s largest credit card issuer are the latest evidence of the need to bring soaring credit card swipe fees under control, the Merchants Payments Coalition said.
READ MORE +Nearly 2,000 Companies and Almost 300 Trade Associations Call on Congress to Address Credit Card 'Swipe' Fees
Almost 2,000 companies and nearly 300 trade associations called on Congress to pass the Credit Card Competition Act as lawmakers returned to Washington this week, MPC said.
READ MORE +Merchants Welcome CFPB Director's Concern About Lack of Competition Over Credit Card 'Swipe' Fees
MPC welcomed remarks made by Consumer Financial Protection Bureau Director Rohit Chopra expressing concern about the lack of competition over credit card “swipe” fees.
READ MORE +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.
READ MORE +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.”
READ MORE +Credit Card 'Swipe' Fees Drive Up Thanksgiving Costs
Rising credit card “swipe” fees will contribute significantly to the cost of celebrating Thanksgiving this year regardless of whether families stay home, eat out or travel, MPC said.
READ MORE +Rising Visa/Mastercard Fraud Rate Shows Need for Credit Card Competition Act to Protect Consumers
An increase in fraud rates on Visa and Mastercard’s networks shows the need to pass the Credit Card Competition Act to provide merchants with more secure options for routing consumer transactions, MPC said.
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