WASHINGTON — The Merchants Payments Coalition here, a group of retailers, supermarkets, drug stores, convenience stores, fuel stations, online merchants and other businesses, released a statement criticizing the U.S. Federal Reserve for “making merchants pay for fraud prevention even if banks don’t prevent fraud.” Although the Fed found that merchants bear 41% of signature debit fraud losses and 74% of such losses for "card-not-present" transactions, its ...
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