I read two articles of interest yesterday…both spotlighting the focus on interchange fees and potential for reform in Congress.

The first article was in yesterday’s Wall Street Journal titled, “Interchange Fees Step Into the Spotlight.”  The article talks about the increase in interchange fees over the years in the U.S. and potential for reform via congressional action.  Banks raked in $45.3 billion in 2008 from credit- and debit-card fees charged to merchants.  75% or $34 billion of these fees go the credit/debit card issuing banks and the remaining 25% or $11.3 billion in fees go to payment processors.   Continue Reading »

No comments »