Senate Majority Whip Dick Durbin zeroed in on America’s two big credit card companies, Mastercard and Visa, for criticism at a congressional hearing on antitrust issues Thursday, again warning the companies about high fees.
At the antitrust subcommittee hearing of the Judiciary committee, Durbin noted American retailers and merchants paid a “staggering” $62.5 billion in swipe fees to Mastercard and Visa last year. He took the companies to task for interchange ‘swipe’ fee increases they’re reportedly planning to impose as soon as next month.
