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American families are living in unprecedented financial times, with prices soaring to never-before-seen heights and inflation continuing to be a stubborn driver of costs. Even simple necessities have become unaffordable. But while you and your family sit around the dining room table and draw up a tight budget for groceries and back-to-school supplies, retailers like Amazon, Walmart, and Target continue to line their own pockets at your expense.
Unfortunately, this proposed change comes at the expense of everyday Americans, as banks often use interchange from card transactions to fund loyalty and rewards programs and bolster consumer data privacy protection measures. According to the report’s findings, retail grocery stores such as Kroger, Walmart, and Amazon saw revenues rise to more than 6 percent above spending costs in 2021 and over 7 percent in 2023. This resulted in a “substantially higher” increase in profit compared to their previous peak profit of 5.6 percent in 2015. The FTC stated that the findings “cast doubt on assertions that rising prices at the grocery store are simply moving in lockstep with retailers’ own rising costs.
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