Average American family pays:
Annual CC Interest fees: $1,500.
Annual CC Swipe fees: $1,800.
Big Bank & Visa-Mastercard PROFIT:
$187B in annual CC swipe fees.
$160B in annual CC interest fees.
This and the Credit Card Competition Act would do wonders to Make America Affordable Again. I wonder how much money each family and Small Business would save per year if swipe fees were lowered!
Forcing competition outside of Visa Mastercard for payments would help tremendously.