• Tom Scott, Senior Vice President of Michigan Retailers Association talks about the new credit card fees.

UPDATE: LANSING - As of late January, with the swipe of a credit card, customers can be charged extra fees.

Retailers can add up to a 4 percent charge if shoppers use their credit cards for their purchases.

A class action lawsuit was filed against major banks and credit card companies to lower processing fees.

Instead of approval, they were giving the option to place the fees on their customers.
However, Tom Scott, Senior Vice President of Michigan Retailers Association, doesn't see it having any effect on consumers.
"Retail is just way too competitive," said Scott. Retailers try to keep their prices down as much as they can because there's such competition on price."

Scott said that with customers knowing that there's an extra charge, it's not going to happen.
"And then, to do that and then add a surcharge that's clearly marked as a surcharge, as an extra charge to the customer, that's just not going to fly," said Scott.


ORIGINAL STORY: LANSING - With the swipe of a credit car, you could be charged extra fees. Find out more about this on Meridian Magazine.