TORONTO, Feb. 13, 2013 /CNW/ - Today the Financial Consumer Agency of
Canada (FCAC) issued a report indicating payment card network operators
are not adhering to the Code of Conduct for the Credit Card Industry in Canada.
This is welcome news to the Canadian Restaurant and Foodservices
Association (CRFA) and its members who have long complained about lack
of transparency and inappropriate business practices by credit card
"Commissioner Ursula Menke and her team should be congratulated for
following up on industry objections and taking credit card networks to
task," says CRFA President and CEO Garth Whyte. "These companies have
been getting away with blatantly unfair actions that completely ignore
the terms of the Code agreed upon. It's a shell game that confuses our
members and costs them a lot of money."
Restaurant operators are frustrated by a slew of unfair practices, such
fees and rates differing from what they signed for;
contract terms changing without notice; and
multiple service provider agreements in one contract.
CRFA is calling on government to take further measures to restrict high
fees, as well as unscrupulous sales and business practices by credit
CRFA is one of Canada's largest business associations, with more than
30,000 members representing restaurants, bars, caterers, institutions
and other foodservice providers. Canada's restaurant industry employs
more than one million people in communities across the country.
SOURCE: Canadian Restaurant and Foodservices Association
For further information:
Prasanthi Vasanthakumar, 1-800-387-5649, ext. 4254 or email@example.com.