Credit Card Fair Fee Act of 2008

To amend the antitrust laws to ensure competitive market-based rates and terms for merchants' access to electronic payment systems.

3/6/2008--Introduced.
Credit Card Fair Fee Act of 2008 - Authorizes providers of a single covered electronic payment system (e.g. Visa or Mastercharge credit cards) and any merchants to jointly negotiate and agree upon rates and terms for access to such a system. Defines covered electronic payment system as any system that has been used for at least 20% of the combined dollar value of U.S. credit, signature-based debit, and PIN-based debit card payments processed in the applicable base year. Grants limited antitrust immunity to such providers and merchants, as well as to those providers who jointly determine among themselves the proportionate division of paid access fees. Sets forth procedures to determine rates and terms for access to a covered electronic payment system. Prohibits any other rates and terms from being imposed upon a merchant for accessing a covered electronic payment system except as specified in a voluntarily negotiated access agreement. Creates a panel of three full-time Electronic Payment System Judges, appointed by the Antitrust Division of the Department of Justice and the Federal Trade Commission Bureau of Competition, to determine the schedule of rates and terms for three-year periods. Subjects any determination of such Judges to judicial review. Authorizes providers and merchants to engage in voluntarily negotiated access agreements. Declares that such voluntarily negotiated access agreements shall be given effect with respect to the signatories in lieu of any determination by the Judges.

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Sponsor

• Rep. John Conyers [D, MI-14]
• and 45 Co-Sponsors
  • Thomas Allen
  • Rep. Brian Baird [D, WA-3]
  • Rep. Sanford Bishop [D, GA-2]
  • Rep. John Boozman [R, AR-3]
  • Christopher Cannon
  • Rep. Russ Carnahan [D, MO-3]
  • Rep. Christopher Carney [D, PA-10]
  • David Davis
  • Rep. William Delahunt [D, MA-10]
  • Rep. Keith Ellison [D, MN-5]
  • Philip English
  • Rep. Chaka Fattah [D, PA-2]
  • Rep. Louis Gohmert [R, TX-1]
  • Rep. Charles Gonzalez [D, TX-20]
  • Rep. Ralph Hall [R, TX-4]
  • Rep. Peter Hoekstra [R, MI-2]
  • Rep. Jay Inslee [D, WA-1]
  • Rep. Jesse Jackson [D, IL-2]
  • Rep. Sheila Jackson-Lee [D, TX-18]
  • Rep. Eddie Johnson [D, TX-30]
  • Rep. Walter Jones [R, NC-3]
  • Rep. Steve Kagen [D, WI-8]
  • Rep. Steve King [R, IA-5]
  • Rep. Ron Klein [D, FL-22]
  • Rep. Zoe Lofgren [D, CA-16]
  • Rep. James Marshall [D, GA-8]
  • Rep. Betty McCollum [D, MN-4]
  • Rep. Jerry McNerney [D, CA-11]
  • Rep. Charles Melancon [D, LA-3]
  • John Peterson
  • Rep. Todd Platts [R, PA-19]
  • Jon Porter
  • Rep. Nick Rahall [D, WV-3]
  • Rep. Heath Shuler [D, NC-11]
  • Rep. William Shuster [R, PA-9]
  • Rep. Bart Stupak [D, MI-1]
  • Rep. John Sullivan [R, OK-1]
  • Rep. Patrick Tiberi [R, OH-12]
  • Rep. Peter Visclosky [D, IN-1]
  • Rep. Zach Wamp [R, TN-3]
  • Rep. Anthony Weiner [D, NY-9]
  • Rep. Peter Welch [D, VT-0]
  • Rep. Edward Whitfield [R, KY-1]
  • Rep. Addison Wilson [R, SC-2]
  • Rep. John Yarmuth [D, KY-3]
  close

Committees

• House Judiciary

Amendments

This bill has no amendments.

Amendments to H.R.5546

Number	Status	Purpose

Bill Status

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Introduced		Voted on by House		Voted on by Senate		Considered By President		Bill Becomes Law
March 06, 2008

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All Bill Actions

• Added to calendar on Oct 03, 2008: Placed on the Union Calendar, Calendar No. 588..
• Oct 03, 2008: Reported (Amended) by the Committee on Judiciary. H. Rept. 110-913.
• Jul 16, 2008: Committee Consideration and Mark-up Session Held.
• Added to calendar on Jul 16, 2008: Ordered to be Reported (Amended) by the Yeas and Nays: 19 - 16..
• May 15, 2008: Hearing Held by the Task Force on Competition Policy and Antitrust Laws.
• Mar 06, 2008: Referred to the House Committee on the Judiciary.
• Mar 06, 2008: Sponsor introductory remarks on measure. (CR E318-319)
• Introduced on Mar 06, 2008.

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Related Bills:

• S.3086

Related Issue Areas:

• Business
• Administrative law judges
• Antitrust law
• Contracts
• 6 more
• Credit cards
• Debit cards
• Fees
• Finance
• Law
• Retail trade

Data from the Congressional Research Service

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In the News

September 09, 2008 Congressional Interest in Merchant Credit Card Fees Drives Book Sales

The proposed antitrust law, now known as HR 5546 or "The Credit Card Fair Fee Act" would virtually strip the Associations of their ability to mandate ...

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Source: MarketWatch

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July 26, 2008 Congress aims to rob consumers and reward major retailers

The Credit Card Fair Fee Act (HR 5546) would artificially lower the transaction fees that merchants pay each time a customer swipes his card. ...

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Source: Liberty Vindicator, TX

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July 22, 2008 Understanding gasoline prices is complex

The Credit Card Fair Fee Act (HR 5546) is critical legislation that could help reduce the financial burden facing retailers and provide them with the ...

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Source: Beckley Register-Herald (subscription), WV

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Blog Coverage

January 05, 2009 TM&S » Blog Archive » Visa and MasterCard Make Their Money on PIN ...

Chargeback ratios Chargebacks compliance contactless technology credit card legislation credit card processing credit cards debit transactions disputed charges ecommerce FACTA fraud HR 5546 identity theft interchange fees interchange ...

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January 02, 2009 TM&S » Blog Archive » Will Lack of Credit Options Lead to Rising ...

Chargeback ratios Chargebacks compliance contactless technology credit card legislation credit card processing credit cards debit transactions disputed charges ecommerce FACTA fraud HR 5546 identity theft interchange fees interchange ...

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December 29, 2008 TM&S » Blog Archive » Can Chargebacks Set your Business Back?

Chargeback ratios Chargebacks compliance contactless technology credit card legislation credit card processing credit cards debit transactions disputed charges ecommerce FACTA fraud HR 5546 identity theft interchange fees interchange ...

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