Lawmakers Back Crackdown On Card Swipe Fees

Law360, New York (May 27, 2010, 3:09 PM EDT) -- A bipartisan coalition of six U.S. House of Representatives lawmakers are calling on congressional negotiators to preserve an amendment to financial regulatory reform legislation that would put new limits on major credit card networks' interchange swipe fees, the subject of several antitrust inquiries.

Reps. Peter Welch, D-Vt., Bill Shuster, R-Penn., and Chris Carney, D-Penn., sent a letter Tuesday to House Speaker Nancy Pelosi, D-Calif., and Minority Leader John Boehner, R-Ohio, expressing their strong support for the tough new rules on interchange swipe fees offered by Sen....
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