The $26.3 Million Solution

Longo, Don
May 2008
Convenience Store News;5/5/2008, Vol. 44 Issue 6, p3
Trade Publication
The article comments on a legislation for reducing credit card transaction fees in the U.S. The Credit Card Fair Fee Act, requires credit card companies to negotiate transaction fees with retailers. He says that the important point for retailers is the credit card companies' refusal to negotiate the fees and market dominance. NACS chairman Richard Oneslager has called upon convenience store retailers to contribute $180 to the NACS Interchange Action Fund, to lobby for the legislation.


Related Articles

  • NACS launches online interchange petition campaign.  // National Petroleum News;Jan2010, Vol. 102 Issue 1, p6 

    The article reports on the launch of an online interchange petition campaign by the National Association of Convenience Stores (NACS) to support a legislation that would provide relief from unfair credit and debit card swipe fees in the U.S.

  • In plea to Legislature, retailers say credit card fees swiping out revenue. KALTWASSER, JARED // njbiz;2/18/2013, p1 

    The article focuses on New Jersey's legislative bill that seeks to ban retailers from imposing credit card surcharges. Attorney Richard Arnold said credit card companies has been implementing such fees but are banning retailers to disclose hidden fees associated with every credit card...

  • Unraveling Reform. Longo, Don // Convenience Store News;11/1/2010, Vol. 46 Issue 14, p3 

    In this article, the author discusses the benefits of the swipe fee reform bill, that was signed by U.S. President Barack Obama in July 2009 as part of the financial services reform bill, for the convenience retail industry. It states that the law promises to benefit the convenience retail...

  • Legislation to Limit Interchange Fees. Adler, Joe // American Banker;3/7/2008, Vol. 173 Issue 46, p17 

    The article looks at a legislative bill for credit card interchange fees. John Conyers, the chairman of the U.S. House Judiciary Committee, introduced the Credit Card Fair Fee Act, which will restrict the interchange fees of credit cards. This is the first step by the U.S. Congress to regulate...

  • MARYLAND BILL WOULD BAN CERTAIN INTEREST RATE CHANGES.  // CardLine;2/15/2008, Vol. 8 Issue 7, p5 

    This article reports on the plan of Democratic state legislator William C. Frick to introduce a bill in Maryland that would stop credit card companies from changing interest rates for extraneous circumstances. The bill would prohibit companies from adjusting interest rates when a customer opens...

  • How Interchange Debate Could Be Affected By Tester's Reelection Race. Hopkins, Cheyenne // CardLine;5/6/2011, Vol. 11 Issue 18, p25 

    The article reports that U.S. Senator Jon Tester's legislative bill regarding the proposed debit interchange fee restrictions is being protested by his opponents in Washington. It is stated that as Democratic leadership looks for ways to give Tester a legislative victory, the close reelection...

  • Push to Ban Credit Card Surcharges Sputters. Wack, Kevin // American Banker;7/11/2013, Vol. 178 Issue 106, p8 

    The article discusses states' efforts to prevent retailers from imposing credit card surcharges which Visa and MasterCard card networks call checkout fees and which pass the cost of swipe fees on to customers using credit cards. The article notes Utah imposed a ban on credit card surcharges. It...

  • Committee Moves Card-Fee Bill. Hamstra, Mark // SN: Supermarket News;7/21/2008, Vol. 56 Issue 29, p6 

    The article reports that the U.S. House Judiciary Committee approved the Credit Card Fair Fee Act of 2008, a bill that would require merchants and credit card companies to negotiate transaction fees. It is stated that the bill preserves most of what retailers had sought to include, with the...

  • LAWMAKERS ACT TO EXPEDITE CARD ACT COMPLIANCE DEADLINES.  // CardLine;10/2/2009, Vol. 9 Issue 40, p1 

    The article reports on the introduction of a legislation from Carolyn Maloney and Barney Frank, U.S. representatives, which sets new credit card policies for credit card issuers in the U.S. The credit card legislation enforces credit card issuers to comply with the policies set in the Credit...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics