NACDS, MPC support credit card legislation

ALEXANDRIA, Va. The Credit Card Fair Fee Act has elicited support from the National Association of Chain Drug Stores and the Merchant Payments Coalition.

The two organizations released statements Tuesday expressing support for the act, introduced by Democratic Michigan Rep. John Conyers, chairman of the House Judiciary Committee.

The act, H.R. 5546, would amend antitrust laws to require competitive rates and terms for merchants’ access to electronic payment systems. MPS, NACDS and other groups consider the interchange fee-setting practices of credit card companies such as Visa and MasterCard anti-competitive.