Page 2 - Leon Buck News Today

The average family already spends an additional $900 from added swipe fees.

The average family already spends an additional $900 from added swipe fees.

The average family already spends an additional $900 from added swipe fees.

The average family already spends an additional $900 from added swipe fees.

"Swipe" fees are imposed on merchants every time a consumer makes a purchase with their credit or debit card. Oftentimes, though, retailers will try and offset these increases by passing them on to the consumer.

Representatives of the retailer community will face off against payment card network and bank executives over credit and debit card interchange during a Wednesday hearing to be chaired by Sen. Dick Durbin.

In bipartisan letter to Visa and Mastercard, lawmakers urged companies to reconsider higher fees slated to take effect this month

The National Retail Federation, the nation's largest retail trade group, is calling on Visa and Mastercard to cancel swipe fee increases as consumers battle skyrocketing inflation.

Consumers will spend an average of $169.79 on Easter-related items this year for a total of $20.8 billion.

The ads will target members of Congress ahead of a $1.2 billion swipe-fee increase next month.