U.S. lawmaker wants proof credit card fees don't harm

(Reuters) - Consumer groups, grocery and drug stores, and other merchants
are increasingly concerned that the payment card industry
dominated by Visa and MasterCard Inc. are raising fees for
card transactions and the system lacks transparency.




At a hearing by the House Judiciary Committee's task force,
merchants complained that Visa and MasterCard are colluding to set
interchange fees much as cartels can fix prices.


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UPDATE 1-GE Money to offer Gap customers a Visa credit card

(Reuters) - CHICAGO, July 2 - General Electric Co.'s GE Money consumer lending unit said on Monday that it would start to offer a Visa credit card to Gap Inc. customers, broadening its reach in the apparel chain's stores.



The new Visa cards will be offered to customers of Gap's namesake chain, Banana Republic and Old Navy. GE will also continue to provide private-label credit card programs for Gap Inc. through 2013. It has provided credit programs to Gap since 1998.


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