Payments News


Lawmakers Urge Credit-Card Companies Not to Raise Interchange Fee Rates

“With financial companies set to increase interchange fees next month, two federal lawmakers are asking them to postpone the hike. On March 3, U.S. Senate Majority Whip Dick Durbin (D-Ill.), chair of the Senate Judiciary Committee, and U.S. Representative Peter Welch (D-Vt.) sent a letter to the CEOs of Visa Inc. and Mastercard Inc. urging the companies not to raise interchange fee rates during the pandemic.”