Retailers want you to PAY so they can PROFIT
Congress wants to cut retailers a break on what they pay to accept debit cards. It would certainly help retailers' bottom line.
But how will this impact what YOU pay for your debit card?
This anti-consumer amendment-passed without debate or hearing-must not stand.
Visit www.thecardalliance.org to learn more. Or-The CARD Alliance (thecardalliance) on Twitter
You pay your bills. Giant retailers should pay theirs too.
twitter.com/thecardalliance - Cached
"For a lesson in what might happen,[Bill Hardekopf, CEO of LowCards.com] points to Australia, which slashed interchange fees in 2003... banks reduced credit card rewards programs, increased annual fees and required customers to pay credit card bills sooner"
~USA Today, 5/25/10
" When new laws decrease fees, you'd think most people would end up better off. Yet the much ballyhooed new regulation on credit card interchange fees may end up doing ordinary consumers more harm than good"
~Motley Fool 5/24/10
"The bad news for consumers: Banks are expexted to respond to the regularitory shake-up with more fees on basic services such as checking accounts... It is'nt clear, though, if merchants will pass along their savings on so-called interchange fees to customers."
~The Wall Street Journal, 5/21/10
Full disclosure- I'm a long term Visa shareholder, but even if I was'nt I'd call this bill B.S.