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Citing inflation’s effect on rising payment card pricing, the senator convened a Judiciary Committee hearing to reassess rules that resulted in caps on debit transaction fees 11 years ago. ....
“When Visa and Mastercard raise interchange fees, banks want to issue more cards because they make more on each swipe,” Judiciary Chair Dick Durbin (D-Ill.) told the card executives. ....
Representatives of the retailer community will face off against payment card network and bank executives over credit and debit card interchange during a Wednesday hearing to be chaired by Sen. Dick Durbin. ....