More on the Credit Card Interchange Fee Wars
In today's Wall St. Journal, the sponsors of the Credit Card Fair Fee Act legislation (Rep. John Conyers and Rep. Chris Cannon) respond to the Journal's earlier editorial against the act. They argue the act is pro-competitive because it 'facilitates direct negotiations between merchants and the credit card industry on interchange fees.'
I absolutely agree with the arguments they raised. They're on the side of greater transparency in the system which can only benefit competition in addition to brining in a little more accountability which should help all parties. The Credit Card Fair Fee Act legislation has been on my radar since I did some work with unfaircreditcardfees.com and started paying attention to how far out of whack the entire interchange fee system is.
Posted by: Mark | April 17, 2008 at 01:28 PM