MAGA Style Capitalism@Work: The Out of Control Swipe Fee Ripoff
S. E. Anderson
MAGA Style Capitalism@Work: The Out of Control Swipe Fee Ripoff
04.28.2026
Cha-ching. The trump administration will block democracy in Illinois and allow the credit card duopoly to continue collecting hundreds of billions of dollars a year from U.S. merchants and customers by charging swipe fees for every card transaction. Despite previously denouncing Visa, Mastercard, and other lenders’ “out of control Swipe Fee ripoff,” President donald trump last week directed his administration to federally preempt an Illinois law banning swipe fees on taxes and tips paid in the state.
💳 That means nationally chartered banks and federal savings associations can ignore the law when it goes into effect on July 1.
🏦 Another rule also issued by the trump administration last week discourages other states from regulating swipe fees by confirming nationally chartered banks’ unilateral ability to impose noninterest charges.
It's called... 🇺🇲 (Fee)dom. ///
s. e. anderson
author of The Black Holocaust for Beginners
"If WORK was good for you, the rich would leave none for the poor." (Haiti)
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