Federal Government Signals Additional Focus On Lowering Credit Card Fees In Fall Economic Statement 2022
| Published date | 09 November 2022 |
| Subject Matter | Finance and Banking, Strategy, Financial Services, Economic Analysis |
| Law Firm | McCarthy Tétrault LLP |
| Author | TechLex Blog, Ana Badour, Lucie Tedesco and Christopher Yam |
The federal announced in its fall economic statement Building an Economy That Works for Everyone ("the Fall Economic Statement") that it intended to "enter into negotiations" with payment card networks, financial institutions, acquirers, payment processors and businesses to lower credit card transactions fees for small businesses while seeking to protect "existing reward points for consumers".
Draft legislative proposals to the Payment Card Networks Act were also concurrently published, providing for...
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