CRFA's Federal Lobbyists
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Joyce Reynolds Executive Vice President, Government Affairs T: 1-800-387-5649 ext. 4219. E: jreynolds@crfa.ca |
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Justin Taylor Vice President, Labour and Supply T: 1-800-387-5649 ext. 4214 E: jtaylor@crfa.ca |
CRFA continues the battle against credit card fees
(June 15/09) Rising credit card fees were on the agenda when CRFA Chairman Brenda O’Reilly and CEOs from leading Canadian retailers met with federal Industry Minister Tony Clement. O’Reilly shared CRFA member concerns and called for greater government oversight of credit card fees.
The same issue was front-and-centre during CRFA’s meetings with Diane Ablonczy, Minister of State for Small Business and Tourism, as well as a number of Senators, Members of Parliament and other government officials.
In a positive first step, Finance Minister Jim Flaherty recently announced regulatory changes designed to increase protection for cardholders while also raising concerns about the interchange fees paid by merchants. Minister Flaherty indicated that the federal government is closely following House of Commons committee hearings and will be able to act quickly on the committee recommendations. (Related article: New credit card rules a positive first step)
Senate and House of Commons committees continue to look into credit and debit card fees, with the Senate report expected this month. The House of Commons committees have already heard testimony from CRFA and other members of the Stop Sticking It To Us Coalition, as well as merchants, Visa and MasterCard, acquirers, card issuing institutions and academics. Interac is also slated to appear before the joint committees on June 16, with House of Commons committee hearings expected to resume in the fall, following Parliament’s summer break.
The Competition Bureau is continuing to evaluate the business practices of Visa and MasterCard to assess whether or not they are in contravention of the Competition Act. CRFA is cooperating with the investigation and will provide updates as the investigation progresses.
Over the next several months, CRFA will be encouraging restaurateurs to meet with local Members of Parliament to explain how skyrocketing credit card fees are hurting their businesses. Visit CRFA.ca for ongoing updates on this important issue.
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