Distribution of Credit Card Loans by Banks Size, 1994-2018
Credit card lending has seen major growth for banks in the past decades. Giant banks dominate credit card lending today, with a 65 percent share.… Read More
Op-Ed in Fortune: The Hidden Price of Cashless Retail
In Fortune, we detail the growing cashless retail trend, steps cities and states are taking to regulate it, and the ultimate effect monopoly credit card companies like Visa and Mastercard have on small businesses and the economy at large.… Read More
Visa Wants to Rule How We Pay for Purchases. But Its Market Power Has a High Cost.
The dominance of Visa, along with Mastercard and the big banks that issue most credit cards, comes with high costs for small business owners and consumers. … Read More
Independent Businesses Report Growing Sales and Hiring, but Policies Tilted in Favor of Large Companies Hold Them Back
The 2016 Independent Business Survey finds that independent businesses experienced brisk sales and a sharp increase in hiring in 2015, but that biased policies and other obstacles are limiting their success.… Read More
Six Small Business Issues at Stake in this Election
Here’s a look at six small business issues at stake in next month’s federal and state elections, including bank reform, corporate tax advantages, getting corporate money out of politics, capping credit card fees, and creating preferences for local businesses in government purchasing. … Read More
GAO Report Confirms Need for Regulation of Credit Card Processing Fees
Credit card processing is not only highly concentrated – MasterCard, Visa, and American Express control 93 percent of the market – but competition among the card processors tends to raise, not lower, the fees they charge merchants, according to a new report from the U.S. General Accounting Office. … Read More
Soaring Credit Card Transaction Fees Squeeze Independent Businesses
Independent businesses are largely at the mercy of Visa and MasterCard when it comes to the fees they must pay every time they swipe a credit card. These fees, which are ultimately passed on to consumers in the form of higher prices, have soared from $27 billion in 2004 to $48 billion last year (or $427 per household). Recognizing the tremendous market power held by card processors, many countries now regulate credit card transaction fees, setting them at rates as low as one-sixth of what U.S. businesses pay. … Read More
Suit Charges that Visa and MC Squeeze Small Retailers
A lawsuit filed this month alleges that Visa and MasterCard illegally fix the price of fees that small retailers pay for credit card transactions. … Read More
