NRF: US should follow EU’s lead on limiting swipe fees

Credit-card swipe fees add up to more than $50 billion a year, or more than $400 per US household, in extra costs charged by banks and set by Visa and MasterCard, NRF General Counsel Mallory Duncan writes. The EU has set rules limiting the fees that can be charged in Europe, after more than 10 years of legal battles. “It’s time for US policymakers to follow that example so American merchants and consumers can stop paying the bulk of the world’s swipe fees,” Duncan writes.

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