WASHINGTON — Kathy Miller, owner of the Elmore Store in Elmore, Vt., called credit-card interchange fees "a quick way to go bankrupt" during testimony earlier this week before the House Financial Service Committee here. Miller said a 35-cent pack of gum that costs the store 21 cents requires an interchange fee of 21 cents, "so I just lost money [and] I should just let [the customer] take it. Obviously we lose money on many small transactions and too much on others, so we have to raise ...
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