10.04.10

Comment Of Senator Patrick Leahy On Justice Department Action Against American Express, MasterCard, And Visa To Eliminate Rules Restricting Price Competition

“The Justice Department’s agreement with MasterCard and Visa is intended to prevent payment processors from barring a merchant from offering a discount, product or enhanced service to a consumer for using one brand or type of credit card over another.  These are the same merchant restrictions that I fought to purge from the debit card market as a conferee on the Wall Street Reform Bill, and I applaud the Justice Department for using the antitrust laws to protect competition in a way that allows retailers to compete and consumers to benefit from more choices and lower prices.”

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[For more information, visit the Justice Department’s website.]

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