The National Retail Federation has shown its support for the landmark antitrust legislation that would address hidden credit card fees and would save retailers and consumers more than $40 billion a year. The Credit Card Fair Fee Act was introduced by House Judiciary Committee Chairman John Conyers, D-Mich. and will address the credit card interchange fees that retailers must pay every time a credit card is used.

"Rather than allowing these fees to continue to be set in secret and imposed on a take it or leave it basis, this legislation would require negotiations and allow retailers to seek fair terms and conditions that will ultimately mean a better deal for consumers," said Mallory Duncan, NRF senior vice president, in a statement. "Consumers are already angry at the way they’ve been treated by credit card companies, and this bill is an important step toward making credit card companies treat both merchants and their customers with respect."