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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Punchbowl News: The Political Viewer's Guide to Washington's Credit Card Wars
Here are the key groups to watch as the credit card war plays out. The merchants: Doug Kantor, general counsel at the National Association of Convenience Stores; Stephanie Martz, chief administrative officer and general counsel at the National Retail Federation and Jennifer Hatcher, chief public policy officer and senior vice president of government and public affairs at the Food Marketing Institute. Kantor is one of Washington’s longest-serving fighters in the credit card wars, pushing for card reforms and lobbying congressional staff since before Dodd-Frank. Martz leads swipe fee strategy for the country’s single largest merchant lobby organization, while Hatcher represents food and grocery retailers, specifically.
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MPC Hill Blast: News Flash: Credit Card Companies Mistreat Consumers
Credit card companies and giant Wall Street banks keep finding more ways to get more money out of American consumers. Keep in mind, they argue that they treat consumers better because of the big dollars they take from merchants in the form of swipe fees. But swipe fees are up more than 50% just since 2020. Has that stopped the big banks from crushing consumers with higher interest rates and big fees? NO.
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WBZ Radio: Nightside With Dan Rea
MPC Executive Committee member and NRF Senior Director Dylan Jeon tells Boston radio station, “The vast majority of our members prefer cash” because of high swipe fees that have “reached the point where they simply cannot absorb that.”
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