Calif. officials probe credit card interchange fees
BY CHRIS RIZO - WEDNESDAY, JANUARY 27, 2010 - LegalNewsline.com
SACRAMENTO, Calif. (Legal Newsline)-California officials, under the leadership of a Democrat running for state attorney general, are probing rising credit card interchange fees.
State Assemblyman Pedro Nava, D-Santa Barbara, and the Assembly Banking and Finance Committee he leads is investigating interchange fees that credit card companies charge businesses and consumers in the course of transactions.
The credit card industry collects about $5 billion from credit- and debit-card fees charged in California. Most of the interchange fees in the state are collected by Visa Inc. and MasterCard Inc. (more)
SACRAMENTO, Calif. (Legal Newsline)-California officials, under the leadership of a Democrat running for state attorney general, are probing rising credit card interchange fees.
State Assemblyman Pedro Nava, D-Santa Barbara, and the Assembly Banking and Finance Committee he leads is investigating interchange fees that credit card companies charge businesses and consumers in the course of transactions.
The credit card industry collects about $5 billion from credit- and debit-card fees charged in California. Most of the interchange fees in the state are collected by Visa Inc. and MasterCard Inc. (more)
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