AAI Letter to Congress About Interchange Fees

The AAI sent a letter to Members of Congress expressing support for the Federal Reserve’s rule to limit the amount of interchange fees that banks can charge merchants.   The AAI asks for Members of Congress to support this sound, competitive solution to the debit interchange fee problem.

The AAI sent a letter to Members of Congress expressing support for the Federal Reserve’s rule to limit the amount of interchange fees that banks can charge merchants.   The AAI asks for Members of Congress to support this sound, competitive solution to the debit interchange fee problem.

One year ago, the AAI published a report on the market failures in the electronic payments system. What the AAI found then remains true today, that interchange fees “unjustly enrich the biggest banks at the expense of U.S. consumers, merchants and market efficiency.