Congress looks askance at credit-card interchange fees

10/19/2009 | Wall Street Journal, The

Credit-card interchange fees have gone up 78% since 2003, according to statistics released by the Nilson Report on Friday. Congress is considering regulating these fees. But the industry defends its practice. "We remain confident that our constituencies understand that interchange is pro-competitive and central to expanding electronic payments," said William Sheedy, who directs Visa's relationships with card issuers, merchants and processors in the Americas.

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