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Corporate Mega-Stores Use Pandemic to Boost Profits, Continue Squeezing American Households 

| Electronic Payments Coalition

This morning the Senate Banking Committee’s Economic Policy Subcommittee will examine the practices corporate mega-stores like grocery conglomerates, Walmart and Target used during the pandemic to increase prices on American consumers.

It is no surprise, when called out by Federal Trade Commission for squeezing distributors to ensure their orders were fulfilled before those of small businesses on Main Street, their lobbyists tried to mislead Congress by saying credit card acceptance costs were driving up inflation– not corporate greed. 

The hearing is titled, “Protecting Consumers’ Pocketbooks: Lowering Food Prices and Combatting Corporate Price Gouging and Consolidation” and can be viewed HERE.

In the document copied below, the EPC has compiled independent research and reports confirming mega-stores have been inflating prices at a faster rate than inflation, all while their sales and revenue figures have climbed to record highs.

Click HERE for a printer-friendly version.

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