Senate Majority Whip Dick Durbin (D-Ill.) and Sen. Roger Marshall (R-Kan.) are urging Visa and Mastercard to call off their plans to increase credit card swipe fees, arguing that the move would hurt small businesses and consumers. Swipe fees — or the fees that credit card companies charge retailers for credit card transactions — are estimated to have cost U.S. merchants $93 billion last year and are often passed on to consumers, the senators noted in a joint statement. “With small businesses and families already dealing with high prices on groceries and gasoline, this hidden credit card fee increase couldn’t come at a worse time,” Durbin and Marshall said. Visa and Mastercard are
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