H.R.2695 - Credit Card Fair Fee Act of 2009

To amend the antitrust laws to ensure competitive market-based rates and terms for merchants' access to electronic payment systems. view all titles (2)

All Bill Titles

  • Official: To amend the antitrust laws to ensure competitive market-based rates and terms for merchants' access to electronic payment systems. as introduced.
  • Short: Credit Card Fair Fee Act of 2009 as introduced.

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Bill’s Views

  • Today: 4
  • Past Seven Days: 7
  • All-Time: 3,530
 
Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
06/04/09
 
 
 
 
 
 
 

Official Summary

Credit Card Fair Fee Act of 2009 - Sets forth a limited antitrust immunity to providers of covered electronic payment systems and merchants for negotiation of access rates and terms. Authorizes providers of a single covered electronic payment system (e.g. credit cards and/or debit cards) an

Official Summary

Credit Card Fair Fee Act of 2009 - Sets forth a limited antitrust immunity to providers of covered electronic payment systems and merchants for negotiation of access rates and terms. Authorizes providers of a single covered electronic payment system (e.g. credit cards and/or debit cards) and merchants to jointly negotiate and agree upon rates and terms for access to such system. Provides immunity exceptions. Requires the rates and terms of a voluntarily negotiated access agreement to be the same for all merchants and participating providers, regardless of their respective category or volume of transactions. Requires issuers, acquirers, owners, and merchants to make specified disclosures regarding itemized costs and access agreements. Requires the negotiating parties to file jointly with the Attorney General any voluntarily negotiated access agreement that affects any market in the United States or elsewhere.

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Organizations Supporting H.R.2695

  • National Association of Convenience Stores
  • Associated Food and Petrolium Dealers
  • U.S. Public Interest Research Group
  • Merchants Payments Coalition
  • Society of Independent Gasoline Marketers of America

Organizations Opposing H.R.2695

  • Credit Union National Association
  • Independent Community Bankers Association
  • National Association of Federal Credit Unions




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