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A state lawmaker in Massachusetts has filed a legislative measure to cap card interchange in the state, according to media reports.State Rep. Joseph Driscoll has filed a bill that would cap the interchange rate for all cards at 0.75%.“This bill looks after consumers and their families by returning equity to them,” Driscoll as quoted as saying. “Placing half a billion dollars back in the hands of those people who have earned it would benefit Massachusetts in a fundamental way. That is what I call economic stimulus.”

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Peter Westerman

Credit Union Times

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