Thursday, August 30, 2007

"Americans for Consumer Education and Competition At It Again" (

Americans for Consumer Education and Competition describes itself as "a consumer education group that has the financial support of Visa USA[®]." That said, the credibility factor of their recent statement raises more questions. ACEC's PRNewsire release attacks the world-class Target Corporation, but fails to mention that this advocacy group is partly the voice of Visa, even though they are now seeking contributions, which signals their recognition that they need to be an independent voice, separate from the member bank's Visa USA. If Target Corp. wasn't forced to accept Visa cards, this attack, as reported by Milwaukee's NBC-TV affiliate TMJ-4, should have caused the giant retail chain to consider dropping Visa, but the card association's market power and unbridled controls force Target to maintain its dependence on the leading card association.

We have several previous posts over the past more than two-years regarding ACEC.