Visa and Mastercard fees are hurting consumers, says Senator Dick Durbin

Senator Dick Durbin and other lawmakers are urging Visa Inc. and Mastercard Inc. to drop their planned card fee increases.

The two major payment networks plan this month to increase the fees that many large merchants pay when they accept credit cards from consumers, The Wall Street Journal previously reported. In a letter sent to the networks on Friday, lawmakers said the fee increases would ultimately trickle down to shoppers who are already struggling with runaway inflation.


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