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Wednesday, October 12, 2011
Visa, MasterCard Already Taking Advantage of Durbin's Loopholes - Retailer Gouging Continues The very day that the Durbin Amendment went into effect, Visa's corporate office began to turn the law to its own advantage. Interchange regulation was meant to break the Visa-MasterCard duopoly that forces small businesses to pay unreasonable fees and consumers to pay higher prices. But Visa, without hesitation, twisted the law to take advantage of loopholes and fatten the bottom line.
Wednesday, October 12, 2011Visa, MasterCard Already Taking Advantage of Durbin's Loopholes - Retailer Gouging Continues The very day that the Durbin Amendment went into effect, Visa's corporate office began to turn the law to its own advantage. Interchange regulation was meant to break the Visa-MasterCard duopoly that forces small businesses to pay unreasonable fees and consumers to pay higher prices. But Visa, without hesitation, twisted the law to take advantage of loopholes and fatten the bottom line.
