Merchants, Credit Card Cos. Face Off Over Fee Bill

Law360, New York (May 9, 2008, 12:00 AM EDT) -- Merchant groups, which have long argued that credit card interchange fees are fixed, are endorsing a bill that would let a government panel oversee fee disputes, but credit card companies warn that the bill would harm the free market.

Representatives for retailers and credit card companies debated the need for the proposed legislation on Thursday at a House Judiciary Committee hearing, which was set up to review concerns over the fees that retailers pay to banks in order to accept credit cards.

The Credit Card Fair...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.