New Credit Card Bill in House

A bill introduced in the House yesterday would allow retailers to bargain collectively with Visa and MasterCard and the banks that issue their credit cards to establish interchange fees.

WASHINGTON — A bill introduced in the House yesterday would allow retailers to bargain collectively with Visa and MasterCard and the banks that issue their credit cards to establish interchange fees. Retailers would be granted antitrust immunity for the purposes of the negotiations, and the Attorney General would have oversight authority.

"This legislation will give merchants a seat at the table in the determination of these fees," said House Judiciary Committee Chairman John C

Register to view the full article

test - Advanced Registered User

Already a member? .