“In many cases, credit card fees are the third largest expense for a merchant. Service stations have it the worst. A lot of them have gone out of business as gas prices have increased because people don’t have cash to pay for gas. They use their credit cards and the service station has to pay enormous fees to Visa and MasterCard. So, technically, Visa and MasterCard are getting windfalls from high gas prices.
To sum it up, since the banks want, as corporations, to be considered as people, I would say this is a giant win for 100 percent of all Americans less about 10 people.”
Read the full article at How Mitch Goldstone’s lawsuit could be your gain | Profit Minded – Yahoo! Small Business Advisor.
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