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.”
READ MORE +
MarketWatch: Battle over credit-card swipe fees hits Congress again. What you need to know.
The Merchants Payments Coalition, a lobbying group for retailers and other companies that support the credit-card legislation, said in a recent statement that it’s “time for Congress to deal with the hidden credit-card fees driving up the prices of nearly everything we buy.”
READ MORE +
MPC Hill Blast: Needing Dollars, Iran-Backed Militias Turn To Visa and Mastercard – WSJ
“Needing Dollars, Iran-Backed Militias Turn To Visa and Mastercard” In case you missed it, that was the headline of a May 31 news story from the Wall Street Journal. The story makes a number of revelations.
READ MORE +
New York Times: Gen Z Doesn’t Want to Start a Bar Tab
“During and after the pandemic, more people started using cards,” said Doug Kantor, an executive committee member of the Merchants Payments Coalition, a retailers group. ... Credit card fees, which soared 80 percent from 2020 to 2024, according to Mr. Kantor of the Merchants Payments Coalition, are one of the highest operating costs for bars and restaurants besides labor and rent.
READ MORE +MPC Hill Blast: Coalition of Large Tribes Supports the Marshall-Durbin Amendment
The Coalition of Large Tribes has endorsed the Marshall-Durbin Amendment to provide some competition to rein in huge credit card swipe fees.
READ MORE +MPC Hill Blast: ‘Bill Aimed at Reducing Credit Card Swipe Fees Puts Chinese Company in Crosshairs’
Washington Times story says ‘Bill Aimed at Reducing Credit Card Swipe Fees Puts Chinese Company in Crosshairs.’
READ MORE +MPC Hill Blast: Wall Street Doubletalk: Swipe Fees Won’t Go Down, But Rewards Will Go Away
The giant Wall Street banks and their “experts” are throwing every argument they can think of against credit card competition. Even when they blatantly contradict themselves.
READ MORE +
Digital Transactions: How CCCA Sponsors See an Opportunity to Advance the Bill
Attaching the CCCA to the Genius Act also made sense because few standalone bills get passed in the Senate. “Amendments are the way the Senate legislates,” says Doug Kantor, an executive committee member for the Merchants Payments Coalition and general counsel for the National Association of Convenience Stores. “The opportunity to attach to the GENIUS Act came up before the CCCA could be reintroduced in this Congress.”
READ MORE +MPC Hill Blast: No Innovation in Payments Without Competition
Payments in the United States is long overdue for innovation, but one MPC member recently coauthored an article with the CEO of a stablecoin company that shows how long overdue we are for real change.
READ MORE +
Payments Journal: Credit Card Legislation May Be Amended to Stablecoin Bill
The act has gained support from retail organizations like the Merchant Payments Coalition and the National Retail Federation, but faces significant opposition from financial institutions and the credit card industry.
READ MORE +