Retailers ask Congress to give them the means to bypass Mastercard and Visa
September 14, 2022
A group of more than 1,600 merchants is asking Congress to pass legislation that would give them the option of using networks other than Mastercard and Visa to process credit card transactions. The retailers claim that so-called swipe fees drive up prices for American consumers. Opponents of the proposed legislation argue that merchants who claim that savings would be passed on to consumers failed to do so when the Durbin amendment was passed as part of the Dodd-Frank Act in 2010. Mastercard and Visa account for 77 percent of all credit card spending in the U.S., according to the Nilson Report.
Recent News
NHTSA Investigates Tesla Autopilot Again After Recent Software Update
Tesla Autopilot is once again the subject of an NHTSA investigation.
Home Depot Holds Halfway to Halloween Sale: Skelly’s Back
It’s halfway to spooky season, and Home Depot is celebrating.
Kaiser Discloses Health Insurance Data Breach
Health insurance company Kaiser is notifying millions of its current and former members about a data breach. The breach occurred when Kaiser shared patients’ information with third-party advertisers like Google, Microsoft, and X (formerly Twitter).
Satirical Site The Onion Acquired by Global Tetrahedron
The satirical news website, The Onion, has been sold by G/O Media to a group of digital media veterans.