U.S. Senator Jerry Moran (R-Kan.) today released the following statement regarding the recent settlement between retailers and card industry participants:
“Our legal system is often in a better position than Congress to resolve disputes of this kind and I view the recent settlement as an important step forward for two key industries.
“This settlement, combined with recent Congressional intervention, has led to dramatic changes in the payment system and we owe it to consumers to hit the pause button and carefully evaluate the impact these changes will have on the market once fully set in place.
“I am hopeful that closing this chapter will allow stakeholders to move forward, grow their business, and begin adding much-needed jobs.”