No. of Recommendations: 0
VISA and MasterCard have engaged in many anti-competitive actions, in part because they are actually chartered as nonprofit organizations. You heard me right, VISA and MasterCard are considered nonprofit entities which serve the interests of their member financial institutions (this is similar to the nonprofit status of the National Football League, Major League Baseball, etc.)

They may be nonprofit, but that doesn't mean they are "charitable" or pro-consumer. VISA and MasterCard funnel off a lot of revenue from transaction fees and from pandering to the politics of the bigger member financial institutions.
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.