SENATE COMMITTEE HEARS TESTIMONY ON CARD FEES

WASHINGTON - A Vermont food retailer told the Senate Judiciary Committee last week that interchange fees set by credit card companies have forced her to raise prices.Kathy Miller, owner of the Elmore Store, Elmore, Vt., said her company paid $4,400 last year in credit card fees, at a rate of 2.65%, plus 20 cents per sale, on $58,500 in plastic transactions. With the average profit margin in the industry

WASHINGTON - A Vermont food retailer told the Senate Judiciary Committee last week that interchange fees set by credit card companies have forced her to raise prices.

Kathy Miller, owner of the Elmore Store, Elmore, Vt., said her company paid $4,400 last year in credit card fees, at a rate of 2.65%, plus 20 cents per sale, on $58,500 in plastic transactions. With the average profit margin in the industry at 1.16% last year, "the banks make more [than supermarket operators do], even th

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