Local Government
By Tyler Reporter |
Nov 7, 2023
Rep. Lance Gooden, along with Senator Dick Durbin, has called for a comprehensive review by the Government Accountability Office (GAO) to assess the federal government's interchange fee expenses over the past five fiscal years. This move comes as it has been revealed that the federal government, and ultimately American taxpayers, are burdened with exorbitant credit card interchange fees amounting to $240 million annually.Visa and Mastercard, the dominant players in the credit card market, collectively control 83% of general-purpose credit cards and generate billions of...