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Interchange fees are an extremely controversial issue. CBA strongly opposes any government intrusion into the market pricing of interchange fees. The debit and credit card markets are extremely competitive at the card issuer, merchant bank and card network levels. Governmental intrusion into the setting of interchange fees is wholly unwarranted and, like other government intrusion into properly functioning markets, will have undesirable and unintended consequences. CBA believes the ensuing negative effects on consumers of the debit interchange regulation will highlight the harm of governmental price fixing, making it difficult to produce any successful legislative or regulatory efforts that seek to do further harm to interchange rates.
- July 31, 2013Washington, D.C. (July 31, 2013) – "This new ruling will create even more chaos for consumers and small banks. Congress ought to save families from this uncertainty by repealing this government mandated price-fixing. We certainly hope retailers return to their free-market principles as they did when opposing the proposed government ban on big gulp sodas in New York." About CBA The Consumer...
- October 5, 2012