Merchants rally against credit card fees

Merchants rally against credit card fees

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.

Read more at the World.

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