Merchants rally against credit card fees

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High Five

Monday, November 23, 2009

Some Oregon merchants have had enough of credit card processing fees.

Based on the behavior of credit card companies in recent months — upping interest rates and jockeying with fees before the CARD Act closes in on them — [Consumers for Competitive Change] fears companies may tamper with interchange rates next, which could hurt small businesses, [the group's president] explained.

Nationwide, merchants spent $48 billion in interchange fees last year, according to Consumers for Competitive Change. That’s triple the amount small businesses paid in 2001.

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