(Washington, DC)- Today House Judiciary Committee Chairman John Conyers, Jr. (D-MI) and Rep. Chris Cannon (R-UT), applauded Judiciary passage of H.R. 5546, the Credit Card Fair Fee Act of 2008. Reported favorably from the House Judiciary Committee this afternoon, H.R. 5546 addresses the anticompetitive element of fees charged to retailers by credit card companies.

"This legislation addresses the anticompetitive aspect of interchange fees by leveling the playing field and encouraging greater negotiation between the relevant parties," said Conyers. "Giving merchants and small businesses a seat at the table will enhance competition and lower prices for consumers."

"Today, the Judiciary Committee sent the clear message that the status quo is no longer acceptable," said Cannon. "The passage of H.R. 5546, the Credit Card Fair Fee Act of 2008, is an important bipartisan step in creating a transparent environment for credit card fees. This issue is not settled, but today’s passage is a victory for merchants, small businesses and consumers. I commend my colleagues on the Judiciary Committee for moving this legislation forward."

The Judiciary Committee's successful reporting of H.R. 5546 clears the bill for consideration before the full House.