Here's an example: one especially pernicious form of junk fee is the "#SwipeFees" that credit-card companies charge merchants. In an increasingly cashless age, these companies - dominated by the #Visa/#Mastercard duopoly - have figured out how to scrape 3-5% out of *every single retail transaction in the entire fucking economy*.

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https://americanprospect.bluelena.io/index.php?action=social&chash=8c5f6ecd29a0eb234459190ca51c16dd.2282&s=21a0e46acbe4de695cd4bd669b182698

The bill’s advances are setting off alarm bells on Wall Street. The bank/credit card lobby is marching in lockstep with conservative dark-money groups to inflame culture-war issues on the right in the hopes of splintering the cross-partisan coalition that’s coalesced around the bill. In an ad campaign, shadowy right-wing groups have been issuing mailers and other advertisements claiming the CCCA is a liberal handout for "woke" big-box retailers like Target.

#SwipeFees

The Interchange Wars Are Back: Whither Card Rewards? http://www.mcgarvey.net/2023/07/11/interchange-wars/ #creditcards #rewards #Swipefees

Using a credit card could soon cost you more as retailers allowed to pass on ‘swipe’ fees to customers https://bit.ly/3UO9HSO #Visa #MasterCard #SwipeFees #CreditCards #interchangefees #cdnpoli