Kaching, kaching, that’s the sound of the Mastercard lobbyists’ coffers engorging. The credit card company spent nearly a million dollars in the 4th quarter to lobby Congress critters, the AP reports. By comparison, they spent only $680,000 in the 3rd quarter, and $510,000 in Q4 2008. Among the issues of keen interest to the big orange and yellow interlocking circle: overdraft fees, banking reform, interchange fees, issuer practices, and the Consumer Financial Protection Agency. The good thing about being Mastercard is that you can just charge all your lobbying expenditures.
Mastercard Spent $960,000 In Q4 To Lobby Congress
By Ben Popken March 30, 2010
- keeping the rules Retailers Ask Congress To Please Not Roll Back Dodd-Frank Debit Card Reforms
- the land of the fee Bank Of America’s New Debit Card Charges $5/Month For Something That Is Free On All Accounts
- banks Despite Regulations Most Consumers Don’t Understand Overdraft Penalty Plans; More Rules Needed
- Payments Of The Future Visa, MasterCard Endorsement Of Tap-And-Pay Could Replace Your Wallet With A Smartphone
- making new pals PayPal And Mastercard Become In-Store Payment Pals