Less than one-quarter, 21%, of consumers view credit card companies as honest and trustworthy when they lobby Congress on fees charged to retailers
That's a top finding of a National Retail Federation survey related to the Credit Card Competition Act that is under consideration by Congress.
The act would require at least two competing processing networks enabled on card — a potential saving for retailers and consumers of about $15 billion a year, according to a press release from NRF.
"Rising credit card swipe fees are hidden taxes on small businesses and consumers," NRF Senior Vice President of Government Relations David French said in the release. "It's time for Congress to pass the Credit Card Competition Act."