Hammonds testifies on interchange fees

02/17/2006 | Progressive Grocer

Food Marketing Institute President and CEO Tim Hammonds submitted testimony to a U.S. House of Representatives committee hearing on credit card interchange fees, noting that FMI members' payments to credit card companies increased 700% over the last decade. He called for fair, cost-based credit card interchange fees and demanded that card companies disclose the fees to consumers and provide retailers with the operating rules they must comply with when handling plastic payments.

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