Mass. Bill To Cap Interchange

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."