Senator Pierrette Ringuette

Hearings to probe card costs

Credit card companies are gouging Canadians and if the debit card market continues to go on unregulated, it will do the same, warns a Liberal senator.

"It's abuse. Pure and simple, it's abuse. All I want to see is justice in the system," said Sen. Pierrette Ringuette, who is spearheading Senate hearings into the issue. Opposition parties worry increases to the fees merchants pay credit companies to use their cards will be passed on to consumers.

Glenn Thibeault, the NDP's consumer affairs critic, said some credit card companies will be dramatically hiking the fees they charge businesses.

"The merchant either loses their entire profit or they increase their prices," he said.

Sen. Ringuette hopes the Senate committee hearings will lead to a cap on fees for merchants.