Constitutional Law
Jan. 11, 2017
Supreme Court to hear dispute over credit card fees
While Visa, MasterCard and the rest are certainly not the devil, they run afoul of the First Amendment in their Frank Underwood-style tactics to force business owners to speak in certain ways about how they price their goods. By Ilya Shapiro and Frank Garrison
Ilya Shapiro
"The greatest trick the devil ever pulled was convincing the world he did not exist." This line from the 1995 Kevin Spacey movie "The Usual Suspects" sums up what credit card companies are doing to insulate themselves from consumer knowledge about the "swipe fees" they charge merchants to use their cards. While Visa, MasterCard and the rest are certainly not the devil, they have employed Frank Underwood-style ...
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