Food Retail Associations Praise European Action on Interchange Fees

Tim Hammonds, president and chief executive officer of Food Marketing Institute, told SN the ruling by the European Commission yesterday that credit and debit card interchange fees charged by MasterCard are illegal sets a precedent for Congress to do the same for bank interchange fees in the United States.

ARLINGTON, Va. — Tim Hammonds, president and chief executive officer of Food Marketing Institute, told SN the ruling by the European Commission yesterday that credit and debit card interchange fees charged by MasterCard are illegal sets a precedent for Congress to do the same for bank interchange fees in the United States. “Our contention has been that the interchange fee scheme is an illegal cartel violating U.S. antitrust laws and after a great deal of investigation the [European Union] has

Register to view the full article

test - Advanced Registered User

Already a member? .

TAGS: News