Statement by American Consumer Institute Regarding the Congressional Letter to Visa and Mastercard on Interchange Fees

The American Consumer Institute is concerned to learn that a letter has been sent by a few U.S.  legislators, led by Senator Dick Durbin of Illinois, to Visa Inc. and Mastercard Inc. regarding reports of pending increases in interchange fees on merchants. The letter expresses misplaced fears that such plans would lead merchants to pass […]

Coalition Letter in Opposition Expansion of the Durbin Amendment

Today, a coalition of nonprofit policy organizations sent a letter to Congress in opposition to any legislation that would expand or mimic the provisions of the Durbin amendment as enacted in the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203). Expanding the Durbin amendment’s interchange fee cap and routing restrictions to credit cards […]