Credit Card Surcharge Ban: Hearing Before the Subcommittee on Consumer Affairs and Coinage of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, Ninety-eighth Congress, Second Session, on H.R. 5026 ... S. 2336 ... March 27, 1984 |
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Page 2
... credit card users with more than 600 million credit cards in circulation in this country . Every year , more than $ 200 ... costs them too much to handle credit cards . They com- plain that the 22- to 5 - percent service fee they pay to ...
... credit card users with more than 600 million credit cards in circulation in this country . Every year , more than $ 200 ... costs them too much to handle credit cards . They com- plain that the 22- to 5 - percent service fee they pay to ...
Page 10
... costs of handling cash . These costs would include : bookkeeping , security , check clearance , and the clearance of bad checks . I would suggest to you , in many cases , these costs would go well beyond the credit card costs . The ...
... costs of handling cash . These costs would include : bookkeeping , security , check clearance , and the clearance of bad checks . I would suggest to you , in many cases , these costs would go well beyond the credit card costs . The ...
Page 11
... charges on the middle class . We are missing the boat by not enacting comprehensive fraud legislation . Some of the statistics on credit card fraud indicate that the total costs may be close to $ 2 billion a year . We have every in ...
... charges on the middle class . We are missing the boat by not enacting comprehensive fraud legislation . Some of the statistics on credit card fraud indicate that the total costs may be close to $ 2 billion a year . We have every in ...
Page 13
... CREDIT CARD CUSTOMERS . THE BODY ACTED ON THE BASIS OF A FEDERAL RESERVE BOARD STUDY WHICH ASSERTED THAT CASH PAYING CUSTOMERS ARE SUBSIDIZING THE COSTS INCURRED BY MERCHANTS AS A RESULT OF CREDIT CARD 1 TRANSACTIONS . AT THE OUTSET , I ...
... CREDIT CARD CUSTOMERS . THE BODY ACTED ON THE BASIS OF A FEDERAL RESERVE BOARD STUDY WHICH ASSERTED THAT CASH PAYING CUSTOMERS ARE SUBSIDIZING THE COSTS INCURRED BY MERCHANTS AS A RESULT OF CREDIT CARD 1 TRANSACTIONS . AT THE OUTSET , I ...
Page 14
... CREDIT CARD TRANSACTION COSTS THE RETAILER 2-3 % MORE THAN A CASH TRANSACTION , A FIGURE WHICH IS ROUGHLY EQUIVALENT TO THE FEE PAID BY MERCHANTS TO ISSUERS OF THIRD PARTY CREDIT CARDS . NOWHERE , HOWEVER , DOES THE STUDY EXAMINE THE HIDDEN ...
... CREDIT CARD TRANSACTION COSTS THE RETAILER 2-3 % MORE THAN A CASH TRANSACTION , A FIGURE WHICH IS ROUGHLY EQUIVALENT TO THE FEE PAID BY MERCHANTS TO ISSUERS OF THIRD PARTY CREDIT CARDS . NOWHERE , HOWEVER , DOES THE STUDY EXAMINE THE HIDDEN ...
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Common terms and phrases
accept credit cards additional advertising amended Amoco annual percentage rate ban on surcharges bank card believe benefit Board Study card issuers card purchases cardholders cash and credit cash customers Cash Discount Act cash price Chairman ANNUNZIO charge card competitive Congress cost of credit credit card costs credit card customers credit card fraud credit card surcharges credit card transactions credit card users credit costs credit customers credit surcharges credit transactions disclosure discounts for cash fact February 27 Federal Reserve Board finance charge FORTNEY gallon GONZALEZ Governor TEETERS higher price HILER impose surcharges incremental sales issue legislation Lending Act marketplace MasterCard merchant discount million NRMA offer discounts OIL COMPANIES pay cash percent permit point of sale price differences price gouging problem prohibition retailers Senate bill Senator D'AMATO sumer surcharge ban surcharges for credit Thank third party Truth in Lending Truth-in-Lending Act two-tier pricing system usury laws VISA WYLIE