(Reuters) - The No. 2 Democrat in the U.S. Senate said on Wednesday he will push to amend a massive Wall Street reform bill with a measure addressing credit card fees affecting retailers.
So-called "interchange" fees are charged to supermarkets, convenience stores and other merchants by firms such as Visa and MasterCard every time a customer uses a credit card. Fees totaled $48 billion in 2008, up from $42 billion in 2007. "We're going to have a bill that addresses the interchange fee and try to bring some fairness to it," Senator Richard Durbin said in remarks on the Senate floor. "This is one of the major concerns of retailers and businesses.Continue Reading at Reuters
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