A few weeks back a House Judiciary Committee held a hearing on proposed legislation that would prevent credit card companies from imposing transaction fees that are unfair. The law, if approved, gives you the right to negotiate “reasonable” fees with these companies. As it stands now, credit card companies set the non-negotiable fee. This particular legislation was aimed at Visa and MasterCard, which collected $42 billion last year in interchange fees. Interchange is the fee you pay every ...
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