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Bank Interchange Swipe Fee - Big Bank Bailout

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Uploaded by on May 4, 2011

American Family Voices (AmericanFamilyVoices.org) releases new video on Bank Interchange Swipe Fee reform. Some members of Congress are siding with Big Banks against small businesses. Congress is in the pocket of big banks trying to raise fees on small businesses by trying to eliminate swipe fee reform already passed into law, giving banks a huge $11B Bailout. Visit www.bigbankbailout.com for details.

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  • In 1992, for instance, Visa acquired Interlink, a West Coast PIN network, and ordered merchants to start paying 0.45% of every Interlink purchase to the issuing banks--a revolutionary development in the PIN realm, where most merchants then paid no fees. Interlink's competitor PIN networks were thereby pressured to pay fees to banks also, lest those banks drop their PIN network logos from their cards.

    MasterCard = Maestro / Visa = Interlink

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