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Peter Welch: “Credit card fees for our small businesses are the highest in…”

Featuring: Peter Welch, Democratic | U.S. Senate, Vermont

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Welch Questions Treasury Secretary Nominee Scott Bessent at Confirmation Hearing

Published | Video Starts at 04:43

And I think he understands that it's the affordability crisis. It is. And just the last thing, very little time. But we were talking about credit card rates for consumers. Credit card fees for our small businesses are the highest in the whole world. The highest in the whole world. Why can't we bring them down and pay what Europe pays our small businesses? It's like the second or third highest expense for them and you'll have some impact there. (04:43–04:49)

CLAIM

Asserts that credit card fees for small businesses in the U.S. are the highest globally.

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.


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