Retailers push for lower swipe fees
September 21, 2022
Retailers are lobbying Congress to enact legislation that would give them the flexibility to determine who to use to process interchange (AKA swipe) fees they are charged when customers buy goods with credit cards. Merchants say that reducing or eliminating the fees will cut the cost of goods to consumers. Credit card companies claim that retailers will pocket the difference and consumers will enjoy fewer benefits associated with card usage.
Recent News
Delta Air Lines Plane Catches Fire in Seattle
Recently, a scary video emerged online, capturing the terrifying moment for all involved as a Delta Air Lines plane burst into flames upon landing at Seattle-Tacoma International Airport.
Federal Probe Launched Into Waymo and Zoox Over Erratic Behavior in Self-Driving Cars
The National Highway Traffic Safety Administration (NHTSA) is probing two self-driving vehicle companies after incidents where their cars acted unpredictably, breaching traffic safety rules or getting into accidents.
Threads Launches Its Own Fact-Verification Effort
Threads, Meta’s latest social network, is beginning its independent fact-checking program after relying on Instagram and Facebook’s network for some time.
Red Lobster Prepares for Bankruptcy Protection Amid Closures
Red Lobster’s post-pandemic struggles continue.