Thursday, the Antitrust Task Force of the House Judiciary Committee is going hold hearings to examine these unfair and hidden fees like the interchange fee which is also hurting small business and not just consumers.
There has been some coverage of this issue in the media, but much more attention is necessary. CBS has recently covered hidden fees on credit cards here: http://www.cbsnews.c...
and hidden fees on debit cards here: http://www.cbsnews.c...
Both articles are worth checking out, I've done some work with www.unfaircreditcardfees.com and the profits these unethical business practices are raking in are only growing.
It is hard enough for the average American to understand all of the fees and rates associated with credit cards without the large credit card companies purposefully creating hidden fees and making rates that can change with little or no notice. Its hard enough for small businesses to make a profit without credit card companies charging increasing fees on their transactions - especially on small gas station owners who have to deal with the high prices and increase popularity of credit card purchases already. Rarely is there an issue that hurts both the individual consumer and the small business at the same time but this is clearly an issue where change and more light are needed.
Hopefully the media will pay more attention to this issue because clearly credit cards are an issue that affects all of us. Please check out the House's Antitrust Task Fore website here: http://judiciary.hou...