Durbin calls debit card system ‘price-fixing’ #swipefees

A spokeswoman for MasterCard referred this afternoon to a recent statement by the company that deploys wording similar to Durbin’s, albeit on the opposite side of the issue. “We are confident that a study will show that directing the government to fix prices rather than letting the free market system work will result in higher prices for consumers,” the statement reads. Likewise, the Electronic Payments Coalition, an industry group pressing for the delay, asks — then answers — this question on its Web site:

via Durbin calls debit card system ‘price-fixing’.


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