Retailers Sue


Under the guise of helping consumers, Congress intervened on behalf of giant retailers to help them obtain an $8 billion annual windfall through unprecedented price caps on debit interchange fees.  Not content with the billions in extra profits they have secured, giant retailers are now suing to increase their windfall.

Despite their promises, there is no evidence that merchants have lowered retail prices in any way, for anyone.  It seems that they are pocketing the windfall and going back to the trough for more.  They have steadfastly refused to accept any requirements that they pass this windfall through to their customers.

The Federal Reserve’s Rule

Retailers Looking to Pad Profits, Not Benefit Consumers with Lawsuit