Capping Interchange Fees Won’t Enhance Consumer Welfare

Each year, financial merchants such as Visa, Mastercard, American Express, and banks process 39.6 billion card transactions in the United States, amounting to 108.6 million transactions each day. To ensure these transactions are processed quickly and securely, financial merchants and banks impose interchange fees on transactions, more commonly known as swipe fees. Last year, merchants businesses paid financial […]

Listen to ACI Experts Talk about Credit Card Fees and Their Impact as Consumers Deal With Holiday Spending

On December 3, 2009, ACI Experts Dr. Larry F. Darby and Dr. Joseph Fuhr, Jr. discuss the effects of hidden credit card fees on consumers and retail merchants.  Click here to here the entire audio. call-audio1

As Black Friday Approaches, Americans Would Have More Money to Spend If Not for Hidden Credit Card Fees — The American Consumer Institute Finds the Annual Interchange Fees to be Roughly One Half of Holiday Spending

WASHINGTON—The American Consumer Institute (ACI) today released a ConsumerGram detailing the negative effects that high credit card fees (referred to as interchange fees) have on families across the country. On average, each household will pay an estimated $337 this year in interchange fees – a hidden tax on credit card purchases. In turn, the credit […]