2345 Crystal Drive · Suite 800 · Arlington, VA 22202-4801 ·
Tel: 202-452-8444 · Fax: 202-429-4519
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2345 Crystal Drive · Suite 800 · Arlington, VA 22202-4801 ·
Tel: 202-452-8444 · Fax: 202-429-4519
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FOR IMMEDIATE RELEASE
FMI Statement on DOJ Antitrust Investigation of Card Network Rules
ARLINGTON, VA — July 30, 2010 — The Food Marketing Institute (FMI) released the following statement today from President and Chief Executive Officer Leslie G. Sarasin regarding comments made this week by Visa Executive Chairman and CEO Joseph Saunders:“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.”
FOR MORE INFO:
Food Marketing Institute (FMI) conducts programs in public affairs, food safety, research, education and industry relations on behalf of its 1,500 member companies - food retailers and wholesalers - in the United States and around the world. FMI's U.S. members operate approximately 26,000 retail food stores and 14,000 pharmacies. Their combined annual sales volume of $680 billion represents three-quarters of all retail food store sales in the United States. FMI's retail membership is composed of large multi-store chains, regional firms and independent supermarkets. Its international membership includes 200 companies from more than 50 countries. FMI's associate members include the supplier partners of its retail and wholesale members.
