Electronic Payments Coalition
 

 
How the antitrust exemption in HR 5546 will harm consumers
"This bill may actually harm consumers, not benefit them."
- The Department of Justice, June 23, 2008. Read more »
"A governmental process for setting prices for private transactions is at odds with the Commission's mission and experience in promoting open market competition."
- The Federal Trade Commission, June 19, 2008. Read more »
 
EPC Members on the Antitrust Task Force Hearing on Interchange
American Bankers Association »
American Financial Services Association »
Financial Services Roundtable »
MasterCard »
National Association of Federal Credit Unions »
 
Letters to Congress in Response to HR 5546
American Financial Services Association »   "I respectfully suggest that any market must be severely dysfunctional before Congress considers supplanting our antitrust laws with onerous and unjustified antitrust exemptions and price controls." Read more...
- Rep. F. James Sensenbrenner (R-WI)
State Banking Associations »  
Economic and Consumer Groups Joint Letter »  
South Carolina Bankers Association »  
Credit Union National Association »  
National Association of Federal Credit Unions »  
Americans for Tax Reform »  
National Taxpayers Union »  
Financial Services Roundtable »  
 
Did you know?
 

THE WASHINGTON TIMES

"American consumers will be harmed by the Credit Card Fair Fee Act because it is seeded in price controls and price controls cause shortages, reduce competition and innovation, and consequently force consumers to dip further into their wallets."

Eric Grover, "Conyers' Wallets" (May 27, 2008)
Read the complete article >

THE BOSTON GLOBE

"It would be hard to think of a more unqualified example of a free-market success [than the electronic payments system], one that daily proves its value anew to the millions of consumers and merchants who willingly use cards for payment."

Jeff Jacoby, "Leave the 'Plastic' Alone" (April 30, 2008)
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THE WALL STREET JOURNAL

"The Conyers-Cannon bill requires that . . . if the parties can't agree, a three-person panel of "electronic payment judges" will "determine rates and terms" which shall be binding. That sounds like a price-control regime."

"Credit Card Wars" (March 29, 2008)
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THE NEW YORK SUN

"Crippling Visa and MasterCard through regulation would decrease consumer choice and buying power, and ultimately hurt the merchants who are calling for it."

Philip Kerpen, policy director for Americans for Prosperity, "Crippling Credit Cards" (March 26, 2008)
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WASHINGTON TIMES

"The many credit card companies, their bank clients and the millions of merchants who accept the cards have freely negotiated fees for decades, much as businesses negotiate prices with each other for goods and services."

Richard W. Rahn, "Really Bad Ideas" (March 20, 2008)
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AMERICAN BANKER

"The case for regulating card acceptance fees has never been weaker. . . . The payment market has never been more competitive, and network competition, differentiation, and innovation are increasing."

Eric Grover, "Viewpoint: Let Market, Not D.C., Set Interchange Rates" (March 14, 2008)

 

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Learn about the failure of interchange regulation in Australia
 
GAO Report on US Government's use of credit cards
 
Learn about the Ninth Circuit Kendall decision
 
 
 
 
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