Start Date: 2024-10-05
End Date: 2024-10-11

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Credit Card Practices Discussed in House of Commons

In a House of Commons Industry and Technology Committee meeting, key witnesses from the Canadian Bankers Association, Mastercard Canada, the Retail Council of Canada, and Visa Canada Corporation discussed credit card practices. Topics included interchange fees, regulatory measures, and cybersecurity investments. The Retail Council of Canada criticized high interchange fees, while Mastercard and Visa highlighted their roles in security and fraud prevention. MPs posed questions regarding financials, rewards programs, and consumer protection. The dialogue focused on the complexities of credit card usage and the impact of financial literacy initiatives.

Sources: ['Transcripts: parlvu.parl.gc.ca']