Wednesday, May 16, 2007

More Windfall Profitering at the Pumps (

With renewed attention and motorist outrage, Visa®, the bank-controlled credit card association, along with MasterCard® are reaping more windfall profiteering during our nation's energy crisis - Record pump prices translate into record merchant interchange fees. As gas prices double, so to are the credit card fees paid in interchange charges. Why? And, what happened to the $50 MasterCard-led interchange cap at the pumps that was heralded late last year? What about Visa and its plan for deflecting this growing crisis and attention to charges that it [member banks] too is reaping huge windfall profits as motorists are forced to pay upwards of $4.00 a gallon?

MasterCard's® Planned Interchange Fee Cap For Gas Retailers (