First in The Vault: The Merchants Payments Coalition is taking a holiday-themed swing at the credit card industry over swipe fees as consumers head into December.
The MPC, which represents retailers and advocates for the passage of the Credit Card Competition Act, pointed to fresh data released by the consulting firm CMSPI this week suggesting that U.S. customers would fork over nearly $20 billion this season in credit card interchange fees.
“If Scrooge and the Grinch conspired on how to ruin the holidays, credit card swipe fees would be their plan,” National Association of Convenience Stores General Counsel Doug Kantor said in a statement.
