A few bucks here, a few bucks there, and you got yourself a pretty good haul. If you're a big bank, how good? In 2024, last year before last, Visa and MasterCard and their big bank partners raked in more than $111 billion in credit card swipe fees [in 2024]. These swipe fees are crushing small businesses, businesses and their customers through higher prices. If you don't believe me, listen to what a constituent of mine in Chicago wrote. (07:11–07:23)
CLAIM
Asserts that Visa and MasterCard, along with big banks, earned over $111 billion in swipe fees in 2024.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
