“We were interested to hear Visa Executive Chairman and Chief Executive Officer Joseph Saunders announce Wednesday that the Department of Justice is considering filing a civil lawsuit challenging rules prohibiting surcharging on credit and differential discounts between networks. This is yet another positive development for supermarket retailers and their customers. FMI has been trying for years to get some kind of relief from these oppressive swipe fees. Both of these reforms have also been introduced in Congress in legislation filed by Congressman Peter Welch (D-VT) and are also the subject of litigation filed in 2005 by a number of retailers against Visa and MasterCard.”
Food Marketing Institute (FMI) conducts programs in public affairs, food safety, research, education and industry relations on behalf of its nearly 1,250 food retail and wholesale member companies in the United States and around the world. FMI’s U.S. members operate more than 25,000 retail food stores and almost 22,000 pharmacies with a combined annual sales volume of nearly $650 billion. FMI’s retail membership is composed of large multi-store chains, regional firms and independent operators. Its international membership includes 126 companies from more than 65 countries. FMI’s nearly 330 associate members include the supplier partners of its retail and wholesale members.
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