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Dick Durbin: “Credit processing fees are crushing businesses, taking up to…”

Featuring: Dick Durbin, Democratic | U.S. Senate Illinois

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Sen. Durbin on Trump Admin's Mental Health Grant Cuts & Credit Card Competition Act

Published | Video Starts at 08:12

That's right. Visa and MasterCard control 85% of the credit card market. Give you an example of some other businesses that wrote to me in relation to this issue. Credit processing fees are crushing businesses, taking up to 4% for credit card sales. Currently. This individual who wrote to me said 88% of my sales are by credit card. It has become literally the coin of the realm. This individual, Laura, says she owns a coffee shop. (08:12–08:18)

CLAIM

Asserts that credit processing fees can take up to 4% of credit card sales, impacting businesses.

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