Canadian Vending

Features Payment Technology
CFIB presents impact of credit card industry


May 11, 2009
By Administrator

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May 11, 2009 – The Canadian Federation of
Independent Business (CFIB) has been asked to present the impacts of
the credit card industry on the small business sector.

May 11, 2009 – The Canadian Federation of Independent Business (CFIB) has been asked to present to the joint meeting of the Standing Committee on Finance and the Standing Committee on Industry, Science and Technology on Tuesday regarding the impacts of the credit card industry on the small business sector.

CFIB president Catherine Swift, who will be presenting at these hearings, said this forum is vital to obtain some badly needed insight into the credit card industry and their pricing models. She added that in order to better understand the lack of accountability and transparency within this duopoly comprised of MasterCard and Visa, there is a compelling need to also hear individually from the chartered banks. "Canada's banks are major players in the credit card business," stated Swift, "and they should not be permitted to remain under the radar. Hopefully this committee will bring them to the table along with the other key stakeholders."

CFIB's presentation to the House of Commons Committee will be aired via parliamentary webcast from 3:30-6:00 P.M. EST. To view the webcast, please use
the following link: parlvu.parl.gc.ca

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For further information: To arrange an interview with Catherine Swift
call Gisele Lumsden or Meghan Carrington at (416) 222-8022.