How Would the Credit Card Competition Act Impact Visa and Mastercard?
Congress recently proposed a bill that could cost Visa and Mastercard billions. Here's what you should know.
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Congress recently proposed a bill that could cost Visa and Mastercard billions. Here's what you should know.
Retailers and payments processors go to war over whether a bill aiming to curb how much retailers pay to process credit cards would help consumers.
It was the Senate bill heard round the credit union movement. On Thursday, July 28, Sens. Roger Marshall (R-Kan.) and Dick Durbin (D-Ill.) introduced
Visa and Mastercard credit card-issuing banks with more than $100 billion in assets would be required to give merchants a lower-cost choice for processing each transaction under a new bill proposed to spur competition.
The urgency to address swipe fees amid near-record inflation is more pronounced than ever.