Consumers believe that President Obama really helped them by signing HR 627. But is it true? This bill exposed consumers to higher annual fees and late fees, decreased credit available on the market, and as a result we all can see less consumer spending which is not helping in today’s economy. More credit – more spending – more jobs and more taxes collected by the government. Do the math. Interchange caps would bring more chaos to our markets and very few people would benefit from the regulation. Merchants would see more annual fees and very expensive customer support which now is free. [more…]
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