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When the impact of credit card “swipe” fees on prices consumers pay for groceries came up at a hearing in Washington in 2022, U.S. Sen. Marsha Blackburn was concerned.
Introduced in the Senate at the end of July by Senators Dick Durbin (D-IL) and Roger Marshall, M.D. (R-KS), the Credit Card Competition Act of 2022 calls on the Federal Reserve System to prohibit ...
Credit card companies don't work for free. Every time you use one, the store you're buying from is charged a "swipe fee" — and that charge will get passed down to you in higher prices.
Even though swipe fees amount to just pennies on the dollar, they add up to big bucks fast because Americans use their credit cards a lot—150 million times per day in 2022.
Too boost Main Street, SC’s members of Congress must tackle sky-high credit card swipe fees ... U.S. merchants paid an estimated $93 billion in Visa and Mastercard credit card fees in 2022, ...
Swipe fees are paid to Visa, Mastercard and other credit card companies in exchange for enabling transactions. Merchants ultimately pass on those fees to consumers who use credit or debit cards.
Retailers are mounting a last-ditch push for a bipartisan bill to crack down on credit card swipe fees paid by businesses. Their aim is to slip the legislation into the National Defense ...
“The credit card industry price-fixing swipe fees is bad enough, ... In April 2022, Visa and Mastercard increased swipe fees by $1.2 billion despite calls from a bipartisan group of U.S ...
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