WASHINGTON — The House Judiciary Committee's Antitrust Task Force's first foray into the topic of credit card interchange on July 19 appeared to produce more questions from lawmakers than answers as witnesses on the two sides of the issue offered conflicting versions of credit card reality.

“We have heard a great deal of conflicting testimony about a very complicated topic,” said Task Force Chairman John Conyers, (D-Mich.) “and now we are going to have to sort through it, but that is what we are here for.”

Witnesses representing retailers, consumers groups, bankers and the perspective of the card brands all offered different takes on such central elements as whether or not there is genuine competition in credit card interchange, whether or not retailers are allowed to discuss the their agreements with the card brands, whether or not U.S. merchants pay the highest interchange in the world and what they get for that fee.

Particularly, lawmakers expressed frustration and doubt about whether, in the end, legislation would help or hinder the market in card interchange.