Merchants Applaud Trump Action on Banking Industry’s Bad Practices
MPC welcomed President Donald Trump’s executive order intended to keep banks from discriminating on political grounds, one of many ways that banks harm everyday Americans.
READ MORE +
Merchants Welcome Court Ruling on Debit Card Swipe Fees
MPC welcomed a federal judge’s ruling overturning the Federal Reserve’s 2011 regulated rate for debit card “swipe” fees on the grounds that it was set higher than intended by Congress.
READ MORE +
Survey Says Consumers Want Lower Credit Card ‘Swipe’ Fees and Believe the CCCA Would Help
The vast majority of consumers favor lower credit card “swipe” fees and those surveyed believe two-to-one that the Credit Card Competition Act would achieve that goal, MPC said today.
READ MORE +
Credit Card ‘Swipe’ Fees Account for $3 Billion of Back-to-School Costs This Year
“Swipe” fees banks charge merchants to process credit card transactions will drive up the price of school and college supplies by $3 billion this year and cost the average family between $20 and $30, MPC said.
READ MORE +
Continuing High Profits at Large Banks Show Need to Address Rising ‘Swipe’ Fees
Three of the nation’s largest banks reported huge profits again as merchants continue to press Congress to address rapidly rising “swipe” fees banks charge them to process transactions, MPC said.
READ MORE +
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.
READ MORE +
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 +
Nation’s Largest Native American Tribes Endorse Credit Card Competition Act Saying Credit Card Swipe Fees ‘Literally Keep Food Out of Reach’
MPC welcomed a letter from the nation’s largest Native American tribes asking Congress to make the Credit Card Competition Act part of the GENIUS Act in order to hold down rising costs for tribal members.
READ MORE +
Merchants Welcome Move to Attach Credit Card ‘Swipe’ Fee Bill to Stablecoin Legislation Set for Vote in Senate
MPC welcomed a move toward a Senate vote on the Credit Card Competition Act amid growing support of efforts to reduce “swipe” fees that drive up costs for small businesses and prices for consumers by billions of dollars a year.
READ MORE +
Merchants Call for Consideration, Passage of the GENIUS Act
MPC encouraged prompt Senate floor consideration, debate and bipartisan passage of the Guiding and Establishing National Innovation for U.S. Stablecoins Act, saying time is of the essence to establish a clear and comprehensive regulatory framework for stablecoin payments. Enactment of the GENIUS Act would be part of an important set of reforms to advance competition in domestic payment innovation, MPC said.
READ MORE +