The Credit Card Fair Fee Act
Yesterday, House Judiciary Committee Chairman John Conyers introduced the “Credit Card Fair Fee Act which is an attempt by Congress to regulate credit card interchange fees (i..e., the fees that credit card companies charge retailers). Here is a copy of the bill. I have only briefly reviewed the proposed legisilation but it is, um, interesting. For example, it creates a three judge panel of “Electronic Payment System Judges” who will “determine rates and terms for access to a covered electronic payment system.”
RSS Feed
