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Visa and Mastercard fees are hurting consumers, says Senator Dick Durbin

Sen. Dick Durbin and other lawmakers are urging Visa Inc. and Mastercard Inc. to scrap their planned increases in card fees.

The two major payment networks plan this month to increase the fees many major merchants pay when accepting consumers’ credit cards, the Wall Street Journal previously reported. In a letter sent to the networks on Friday, lawmakers said the fee hikes would eventually filter through to shoppers already grappling with runaway inflation.

https://www.wsj.com/articles/visa-mastercard-fees-will-hurt-consumers-sen-dick-durbin-says-11650046879?mod=rss_markets_main Visa and Mastercard fees are hurting consumers, says Senator Dick Durbin

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