CU Times Washington Reporter
WASHINGTON — In a closely divided vote that did not break along party lines, a House panel approved a measure to order merchants and card issuers to negotiate interchange fees.
The Credit Card Fair Fee Act (H.R. 5546) passed the House Judiciary Committee 19 to 16 last Wednesday. Even though the bill was amended to incorporate some of the concerns expressed by credit unions, the industry's trade associations continue to oppose it and expressed optimism that it won't be enacted this year.
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