Visa and Mastercard have a duopoly on the card swipe fees charged to consumers. It costs the average family about $900 per year in fees, way higher than Europe.
The Credit Card Competition Act is moving thru Senate hearings. This would introduce more competition into the market to bring down these hidden fees.
Plenty of companies would lend the money to Americans at a much more reasonable rate. Break them up and get more competition.
— Master Chief (@BasedSierra117) November 19, 2024
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