You don't know it, your retailer does. For some small businesses these swipe fees become their second or third largest expense. And many have been hired forced to raise prices. As a result. Americans pay the highest swipe fees in the world. The Credit Card Competition act would bring these down leading to savings for businesses and lower prices for consumers. Look forward to hearing the witnesses today. And Ms. Caron, welcome from Illinois. (01:20–01:24)
CLAIM
Asserts that the United States has the highest credit card swipe fees globally.
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