Regulators looking at merchant fees
From Times Wire Services
The Justice Department is investigating interchange fees that MasterCard Inc., Visa International Inc. and their member banks charge retailers to process transactions, the department’s chief antitrust enforcer told Congress.
Thomas O. Barnett disclosed the probe when asked at a congressional hearing whether the Justice Department was investigating merchants’ complaints that alleged collusion by MasterCard and Visa and their member banks forces retailers to pay higher prices to process transactions.
