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Card Interchange Bill Introduced

The National Retail Federation is celebrating the introduction of a measure which is designed to force both sides of the card interchange fight to settle their differences or face arbitration by the courts.

By David Morrison | Updated on March 07, 2008

WASHINGTON — The National Retail Federation is celebrating the introduction of a measure which is designed to force both sides of the card interchange fight to settle their differences or face arbitration by the courts.

H.R.5546, the Credit Card Fair Fee Act would require the major card brands to negotiate with merchants to reach an interchange settlement. If an agreement can be reached, both sides would have to submit to binding arbitration by a panel of judges appointed by the Department of Justice and Federal Trade Commission.

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