Trump Targets Card Swipe Fees After Interest Rate Threats (1)

First President Donald Trump targeted the interest rates credit-card companies levy against US consumers. Now he’s targeting the interchange fees that merchants must pay to tap, swipe and insert their cards at checkout by endorsing a measure on Capitol Hill that aims to boost competition among payment networks.

Trump called on lawmakers in a social media post early Tuesday to support legislation known as the Credit Card Competition Act, a bipartisan measure that would require larger banks to offer retailers the ability to bypass dominant networks Visa Inc. and Mastercard Inc. for transactions, taking direct aim at what has been ...