Merchants Say ‘The President is Right’ on High Credit Card Company Profits
MPC welcomed concern about excessive credit card company profits voiced by President Donald Trump during remarks at the World Economic Forum in Davos, Switzerland.
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Payments Dive: Merchant lawyers laud surcharge option
“Their whole approach to that is wrong from the start, which is why the settlement is not helpful and why many, many merchants opposed it,” said Doug Kantor, general counsel of the National Association of Convenience Stores. Surcharges cause customers to “get upset about it and assume it’s the merchant doing something,” Kantor said Friday in a telephone call. Kantor is also an executive with the Merchants Payments Coalition, which has joined other merchant groups in battling the networks, including over the Credit Card Competition Act.
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MPC Hill Blast: Where Does All the Banks' Money Go?
The banks are bringing in big money: “Wall Street is rolling into the new year firing on all cylinders, after the nation’s biggest banks had one of the strongest years on record in 2025.”
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The Food Institute: With Trump’s Support, the Credit Card Competition Act Has Legs
The Merchants Payments Coalition calculated that swipe fees amount to an average of nearly $1,200 a year per American household, basing its analysis on the same Nilson data.
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American Banker: While banks trash card restrictions, merchant lobbyists are cheering
"Giant credit card companies and Wall Street banks have gotten away with price-fixing credit card swipe fees and sticking everyday Americans with the bill for years," Merchant Payments Coalition executive committee member and National Association of Convenience Stores General Counsel Doug Kantor said in a release. "Enough is enough, and the President deserves enormous credit for taking on this issue that secretly eats away at every family's budget."
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Convenience Stores News: Credit Card Competition Act Gains New Life
"From President Trump endorsing the bill to Sen. Durbin making a push for passage on the Senate floor, momentum to finally bring competition to credit card swipe fees is at the highest level we've ever seen and is building quickly," said MPC Executive Committee member and NACS General Counsel Doug Kantor. "When Donald Trump, Roger Marshall, Dick Durbin, Lance Gooden and Zoe Lofgren all agree on something, that's a clear sign that this is a nonpartisan issue that impacts American families across the political spectrum."
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Credit Unions Today: Merchants Coalition Cheers Durbin Push For Credit Card Competition Act After Trump Endorsement
The Merchants Payments Coalition this week praised comments by Sen. Dick Durbin (D-IL) after he urged the Senate to pass the Credit Card Competition Act, citing President Donald Trump’s recent endorsement of the long-stalled measure.
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Merchants Welcome Durbin Call to ‘Get This Done’ After Trump Endorsement of Credit Card Competition Act
MPC welcomed remarks made by Senator Dick Durbin on the Senate floor as he called for passage of the Credit Card Competition Act two days after the measure was endorsed by President Donald Trump.
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Woodall's Campground Magazine: Credit Card Competition Act Reintroduced, Trump Endorses
OHI has championed this bipartisan legislation through a multi-industry coalition called the Merchants Payments Coalition, traveling to Washington DC with more than 75 different OHI-member outdoor hospitality businesses in the past two years.
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Payments Dive: Merchants take on banks with Trump’s help
“Thank you, President Trump, for protecting America’s consumers and Main Street businesses,” National Association of Convenience Stores General Counsel (and MPC Executive Committee member) Doug Kantor said in a press release. “Giant credit card companies and Wall Street banks have gotten away with price-fixing credit card swipe fees and sticking everyday Americans with the bill for years.”
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