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Fees for using credit cards are out of control and need reform

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Published September 16, 2017 4:01am ET
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Fees for using credit cards are out of control and need reform
The annual tab for both debit and credit swipe fees has swollen to $70 billion. That's big money - hundreds of dollars each year for every family in the country. That means everybody has less spending power and economic growth suffers. (AP Photo/Martin Meissner, File) | Martin Meissner

When it comes to taking a bite out of consumers and small merchants, the big banks are a lot like “The Walking Dead.” They just keep coming.

Every time you use a credit card, your bank swipes a fee of as much as $4 right off the top of a $100 pair of shoes or a nice dinner for two.

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Commentary Credit Cards