Reply to post: Time for the Fed to fix ALL CC Processing

Big Retail: We don't hate Apple, we hate the credit card companies

Anonymous Coward
Anonymous Coward

Time for the Fed to fix ALL CC Processing

If there was ever any need to have the government get involved in anything, the ripoff of the consumer by banks and credit card companiesis one of the most obvious. Too bad politicians won't allow that.

If you have a debit card there should be no "processing fee" because that debit card is the same as cash. You are effectively writing an electronic check each time you use the card. The Federal Reserve Banking system does the processing between banks for checks.

Why not add debit card transactions between the vendor and the banks???

Additional fees being applied to business to electronically access the Federal Banking system to reach your bank and deduct the money should not apply because the citizens of the US already paid for the system in the first place.

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