Credit card rules unfair, says watchdog

 The Toronto Star

Visa and MasterCard impose “restrictive” and “anti-competitive rules” on merchants that add up to $5 billion a year in hidden credit cards fees that are ultimately passed on to consumers, Canada’s competition watchdog says.

The federal bureau of competition policy has asked the Competition Tribunal to strike down the rules, which it alleges effectively eliminate competition between the two multinational credit card giants.

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