NACDS applauds House committee vote on credit card legislation

ALEXANDRIA, Va. On Wednesday the House Judiciary Committee passed H.R. 5546, the “Credit Card Fair Fee Act,” which will help to mandate that credit card companies negotiate the fees they charge merchants for electronic transactions.

In response to the passage, the National Association of Chain Drug Stores president and chief executive officer Steve Anderson thanked all the members of the committee who voted in favor of the bill, especially chairman John Conyers.

Anderson continued by noting that, “This week’s action is a big step forward toward achieving greater transparency for credit card fees, which will mean a better credit card marketplace for consumers and pharmacies alike. We will continue our work with the Merchants Payments Coalition to move this bill toward a successful floor vote in the House.”