Canadians' Call for Regulation of Interchange Fees Rejected - GreenSheet

Posted by John B. Frank Thursday, July 16, 2009

Canadians' call for regulation rejected

n June 2009, the Canadian Senate Standing Committee on Banking, Tradeand Commerce rejected its own merchant lobbyists' call for priceregulation on fees charged to merchants for credit card transactions.MasterCard Canada officials welcomed the decision and said theyappreciated the opportunity provided by the committee to participate ina comprehensive examination of Canada's payment systems.

"TheSenate Committee clearly recognized that price controls areinappropriate and would harm consumers," said Kevin Stanton, President,MasterCard Canada, in a press release. "Australia continues to providean excellent example of how such price controls reduce credit cardprogram benefits and result in no appreciable decrease in the price ofgoods and services."

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