| |
National
Retail Federation
Supports Credit Card
Fair Fee Act |
March
19, 2008
Source: National Retail
Federation |
 |
| |
| Retailers
support the
measure to re-evaluate
hidden credit
card fees.
The National
Retail Federation
has shown
its support
for the landmark
antitrust
legislation
that would
address hidden
credit card
fees and would
save retailers
and consumers
more than
$40 billion
a year. The
Credit Card
Fair Fee Act
was introduced
by House Judiciary
Committee
Chairman John
Conyers, D-Mich.
and will address
the credit
card interchange
fees that
retailers
must pay every
time a credit
card is used.
"Rather
than allowing
these fees
to continue
to be set
in secret
and imposed
on a take
it or leave
it basis,
this legislation
would require
negotiations
and allow
retailers
to seek fair
terms and
conditions
that will
ultimately
mean a better
deal for consumers,"
said Mallory
Duncan, NRF
senior vice
president,
in a statement.
"Consumers
are already
angry at the
way they’ve
been treated
by credit
card companies,
and this bill
is an important
step toward
making credit
card companies
treat both
merchants
and their
customers
with respect."
|
|
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