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In the Press Swipe fees are big news - see press coverage of this important issue below.
Sen. Durbin Speaks to Congress on Swipe Fee Reform Sen. Durbin speaks on his amendment to help small businesses be reforming 'swipe fees.' Watch the video. House Lawmakers Hope to Capitalize on Senate 'Swipe Fee' Support A bipartisan group of House lawmakers hopes to capitalize on surprise Senate support to give retailers more leverage over banks on the charges attached to debit-card transactions. Read more. Banks, Credit Unions Face Tough Fight on Swipe Fees Banks and credit unions face an uphill battle to defeat legislation that would limit debit card fees paid by merchants. Read more. Limiting Interchange Fees Is Right Visa and MasterCard control 80% of the debit card market and require merchants to pay up to 2% of every debit-card sale they make to the card-issuing bank as an interchange fee. Read more. Rep. Welch, Kathy Miller Support Swipe Fee Reform Rep. Peter Welch of Vermont and Kathy Miller of the Elmore Store in Elmore, Vermont, testified before the House Financial Services Committee in support of legislation to reform credit card 'swipe' fees. Watch the video.
Sen. Brown Highlights How Wall Street Reform Will Help Small Businesses As the U.S. Senate gears up for a final vote on Wall Street reform legislation, U.S. Sen. Sherrod Brown (D-OH) outlined how the bill would help Ohio retailers, businesses and consumers by cracking down on “swipe fees” charged on debit card purchases. Read more. Interchange 'Swipe' Fees Challenged You may have noticed new signs popping up at your local gas station. Speedway stores have started a campaign this month to bring to your attention the concept of "swipe fees." Watch the video. Reforms Sought for Credit Card Swipe Fees Consumer advocates are applauding credit card reforms taking effect next month, but retail industry representatives say more must be done to protect small businesses from rising fees assessed by card issuers. Read more. Banks Pad Their Pockets with Unregulated Swipe Fees Feb. 3 and 4, I will join the ranks of other retailers from across the country to meet with U.S. senators, representatives and their staff to talk about credit-card swipe fees. Read more. Ark. Merchants Protest Credit Card Swipe Fees EJ's is a pretty unremarkable diner in downtown Little Rock - good sandwiches, homemade potato chips, paintings from local artists on the wall. It's also a poster child for the struggle over credit card swipe fees. Listen now. Taking a Swipe at Swipe Fees CNN features retailer reactions to swipe fees and the current drive for interchange reform. Watch the video. Retailer is Swiped Out Convenience store chain Quick Chek is crying foul over banks' debit card fees and is turning to an unlikely group for support: Its customers. Read more. Gas Stations Fighting Credit Card Fees More people than ever are using cards to pay at the pump. But it’s coming at a big cost to gas stations, who say they’re charged expensive transaction fees. Read more. Businesses Cry Foul Over Credit Card Fees Some Maine business owners said they have little recourse to challenge big credit card companies over high transaction fees that some said hurts business and, ultimately, consumers. Watch the video. Convenience Stores Look to Customers to Help Fight Card Fees A chain of convenience stores is asking its Cedar Valley outlets to join their fight against credit and debit card fees. Kwik Trip convenience stores are gathering signatures on petitions at various locations to pressure lawmakers into examining the fees. Read more. Credit Card Issuers Profit First From Haiti Donations As the world rushes to help with the relief efforts of the devastating tragedy in Haiti, an unlikely party stands to profit from the outpouring of care and concern: credit card companies. Read more. Retail Shops, Gas Stations Petitioning Credit Card Fees Gas stations and other retail shops have waged a war against credit or debit card companies charging swipe fees. Some stores are now petitioning against the fees. Read more. Credit Card Fees Put Swipe in 'Swiping' Now that credit-card companies have consumers hooked on plastic, local merchants charge that Visa and MasterCard are using expensive "swipe fees" to make out like bandits. Read more. Customers Asked to Fight Credit Fees The Pantry is taking its fight against high credit card fees directly to its shoppers, asking customers at its nearly 1,700 convenience stores to sign a petition protesting the fees. Read more. The Damage of Card Rewards For several years, I’ve wondered whether my aggressive pursuit of credit card rewards made me a selfish consumer. Read more. Convenience Stores Fighting Credit Card Swipe Fees The tough economic times have brought the spotlight and criticism on bank fees. In many cases, there's little one can do about those fees except pay them. But a coalition of businesses wants some changes for one of the most common ones: credit card swipe fees. Watch the video. How Debit Cards Cost Consumers In today’s New York Times, Andrew Martin details how Visa makes billions of dollars a year from the pennies it charges merchants every time a customer uses a debit card. These fees – called either interchange fees or merchant fees – typically come out to between one and three percent of the total transaction. Read more. Convenience Stores Join Fight Against 'Swipe Fees' Rudy's convenience stores across East Texas, including six here in Nacogdoches, are participating in a month-long nationwide drive aimed at getting Congress to reform the current system of what banks charge in hidden "swipe fees" on credit and debit cards. Read more. How Visa, Using Card Fees, Dominates a Market Every day, millions of Americans stand at store checkout counters and make a seemingly random decision: after swiping their debit card, they choose whether to punch in a code, or to sign their name. Read more. Visa Reigns With Silent Tax The growing use of debit cards has meant big profits for Visa, and there are concerns that the company's market power has led to unnecessarily high fees to merchants. Watch the video. Interchange Fees: An Unfair Charge with Every Swipe Over the years, Powell's Books, and I personally, have spoken out on issues related to our mission as booksellers and the livability of our city. Those causes have included people's right to free expression and other civil liberties, literacy and public transportation. Read more.
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