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New Jersey merchants deserve relief from credit card swipe fees | Opinion

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New Jersey merchants deserve relief from credit card swipe fees | Opinion



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  • The Credit Card Competition Act (CCCA) aims to reduce credit card swipe fees charged to small businesses.
  • New Jersey small businesses paid over $3 billion in swipe fees in 2023, impacting consumers through increased prices.
  • The CCCA would introduce competition among credit card networks, potentially saving New Jersey businesses and consumers $475 million annually.
  • Passing the CCCA is urged to lower costs for businesses and consumers nationwide.

New Jersey residentss are still anxiously awaiting the significant financial relief that was promised on the 2024 campaign trail. Providing economic relief and helping out mom and pop businesses are a cornerstone of sensible policy and the type of kitchen table issues that matter to us as voters. And with Americans more concerned about the economy than ever before, having Senators like Andy Kim and Cory Booker who can help quickly pass legislation like the Credit Card Competition Act will help address those anxieties by boosting small businesses and reducing costs for consumers.

The Credit Card Competition Act, or CCCA, will lower the out-of-control credit card swipe fees levied on small businesses by big banks and card companies. Here in New Jersey, small businesses paid over $3 billion in swipe fees in 2023 alone, with swipe fees across the United States more than tripling over the last decade. This unprecedented increase in fees is the direct result of Visa and Mastercard’s dominance of the payments industry. 

In the absence of serious competition, Visa and Mastercard have taken it upon themselves to raise swipe fees repeatedly. Meanwhile, merchants have been forced to pass on those higher fee payments to consumers in the form of increased costs. Unlike credit card executives, however, ordinary Americans aren’t made of money. New Jersey households already spend 32% more than the national average on everyday bills and costs, and an added burden from swipe fees only puts unnecessary strain on the state’s economy. American families are paying on average more than $1,100 a year in higher prices as a result of swipe fees. After four years of historic inflation, we simply can’t afford that.

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If Congress wants to reduce costs for businesses in the Garden State and nationwide, it should vote to pass the Credit Card Competition Act which has received overwhelming support from the public, a variety of merchant associations, and even the Teamsters and the SEIU, some of America’s largest unions.

This legislation will let merchants choose between a minimum of two different credit card networks when processing a payment, providing an avenue for more competition in the payments industry and giving Visa and Mastercard an incentive to lower their swipe fees in order to remain competitive. A drop in fees would result in significant savings, upward of $475 million for New Jersey businesses and consumers annually. Saving on swipe fees means more funds to improve wages, hire more staff, and lower prices on goods and services.  

It’s time to move past the campaign promises and finally tackle issues that are actively increasing costs. I hope Sen. Andy Kim and Sen. Cory Booker will support passage of the Credit Card Competition Act and exemplify the support this bill has already received. Swipe fees don’t discriminate by party, and lowering costs for Americans should be a top priority for every member of Congress.

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Joseph Allegre is owner of Supreme Team Barber Lounge in Hazlet.



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New Jersey

News Wrap: 2 killed in New Jersey after vehicle swept away in flash flood

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News Wrap: 2 killed in New Jersey after vehicle swept away in flash flood


William Brangham:

As residents clean up from the storms, forecasters say the weather is set to improve across much of the region, though more storms are possible in parts of the Northeast and mid-Atlantic through the end of the week.

In Texas, search efforts are ongoing for those still missing after the deadly Fourth of July flooding. At least 132 people are known to have died, with the vast majority of those in Kerr County. Officials say 101 people are still unaccounted for as officials look to drain reservoirs to search for victims.

Rainfall this week has hampered recovery operations and a flood watch remains in effect for parts of South Central Texas, which includes Kerr County.

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Turning to Gaza, health officials say Israeli airstrikes overnight killed at least 93 people, including dozens of women and children. One strike hit the Shati refugee camp in the north. Hospital officials there say a Hamas politician was killed along with a couple and their six children. Israel did not comment on that attack, but it frequently blames Hamas for civilian deaths, saying its militants hide in populated areas.

Syria’s defense minister announced a cease-fire today after sectarian clashes killed dozens of people in the country’s south. The truce came shortly after government forces entered a vital city in the southern Suwayda province. The fighting began with kidnappings and attacks between local bedouin tribes and fighters from the Druze minority group.

Officials say more than 30 people were killed yesterday. A U.K.-based monitor says at least 135 people died over two days. Neighboring Israel had launched strikes on the area, saying they were aimed at supporting the Druze and preventing further fighting near its own border.

A judge in the U.K. sentenced two men today to more than four years in prison for cutting down England’s iconic Sycamore Gap Tree. Daniel Graham and Adam Carruthers were convicted of two counts each of criminal damage, one for cutting down the tree, as seen in this grainy video that was used as evidence, and the other for damaging the ancient Hadrian’s Wall, which is a UNESCO World Heritage Site.

The tree stood for nearly 150 years before it was chopped down in 2023 in what prosecutors called a moronic mission.

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A team of private astronauts is safely back on earth after a nearly three-week visit to the International Space Station.



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New Jersey flash flooding triggers dramatic rescues

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New Jersey flash flooding triggers dramatic rescues


Torrential rain and flash flooding led to dramatic rescues in New Jersey as Gov. Phil Murphy declared a state of emergency. 

Cars stalled and crews scrambled to shut down roads Monday in the Garden State while storms pummeled the Tri-State Area.

Flash flood rescues in Scotch Plains

Raging floodwaters raced through Scotch Plains, and much of Union County, stranding drivers who were trapped in their vehicles as the waters rose. 

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In one rescue, crews used rope to pull a man out of his car through the raging floodwaters to safe ground. 

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A man, left, is harnessed to a rope and is eased into the floodwaters to be pulled through in Scotch Plains, N.J. on July 14, 2025. 

CBS News New York


Authorities also launched boats into the flooded streets as the intense rainfall caused the Green Brook River in the Watchung Reserve to overflow.

Many said it was some of the worst flooding they ever saw. 

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“Maybe in like 15, 20 minutes it went from maybe just a little stream of water, and then it just started flooding over,” a woman said. “Pretty scary.” 

Rafts made their way through the streets, scooping up people with no way out and bringing them back to safety.

Others were carried by a frontloader. 

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A frontloader hoists people over floodwaters as part of a rescue in Scotch Plains, N.J. on July 14, 2025. 

CBS News New York

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“Because of the water, we couldn’t go any further. So we had to get out and we tried to go up the road and we couldn’t. So they told us just to stay there and they came and picked me up in a loader,” another woman said.

Other people whose cars were submerged had no way to get home, except by way of a giant truck that became a huge bus to carry them away. 

“I’ve never seen flooding like this”

In Plainfield, the heavy rain turned streets into rivers that rushed past homes and knocked down trees. 

“I’ve never seen flooding like this,” Michael Vargas said. 

Vargas said directions on his phone led him to a flooded street where he was trapped for more than an hour. 

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“It was all the way up, all the way up here. So, just sat there. I’m sure the car, I mean there’s nothing I can do. It’s ruined. Time for a new car,” he said.

The tow truck driver who helped Vargas told CBS News New York it was a very busy night for business. 

Meanwhile, in the time of need, some jumped into action to help others. 

“It’s what we do in Plainfield. Try to help a neighbor out along the way,” Marc Williams said. 

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Flooding in Plainfield, N.J. on July 14, 2025. 

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CBS News New York


In Roselle Park, rain flooded several businesses on Chestnut Street. 

“Probably about six inches to a foot inside the restaurant,” Russell Olden, one of the owners of Dowling’s Irish Pub & Restaurant, said. 

Olden said he rushed over as soon as he found out about the flooding. 

“It’s not just my business. It’s not just my employees. It’s everybody down in this area. The water comes in, it comes in quick, and there’s really no time to react to it,” he said. 

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As the water receded in some areas, the cleanup efforts were just beginning to get under way. 

“It’s disheartening. It’s not the best feeling in the world, but we’re resilient, we’re strong,” Olden said. 

Olden said his restaurant last flooded during Hurricane Ida, so he knows exactly what the next steps are. He’ll bring in professional help to assess the damage. 



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New Jersey

FIFA Club World Cup Final is a win for New Jersey

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FIFA Club World Cup Final is a win for New Jersey


Chelsea has become the first team to win the newly expanded FIFA Club World Cup with a victory over Paris Saint-Germain. The match brought fans from all over the country and the world to New Jersey’s MetLife Stadium, making this, as many tell CBS News New York’s Jenna DeAngelis, a win for New Jersey.



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