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In Brief / CREDIT CARDS

Regulators looking at merchant fees

September 26, 2007|From Times Wire Services

The Justice Department is investigating interchange fees that MasterCard Inc., Visa International Inc. and their member banks charge retailers to process transactions, the department's chief antitrust enforcer told Congress.

Thomas O. Barnett disclosed the probe when asked at a congressional hearing whether the Justice Department was investigating merchants' complaints that alleged collusion by MasterCard and Visa and their member banks forces retailers to pay higher prices to process transactions.

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