7-Eleven fights high credit-card fees

Dallas 7-Eleven is attempting to garner 1 million signatures in protest of exorbitant credit-card fees, according to a report in the Dallas Morning News.

The c-store retailer is launching its fight this week, the report said, which will petition Congress to change what the chain says are unfair and excessive credit-card transaction fees.

For convenience stores alone, the fees totaled $8.4 billion last year, up 10.5% from 2007. That's more than the $5.2 billion the industry made in profit, according to the National Association of Convenience Stores.

7-Eleven paid $160 million to credit-card companies last year. Its protest efforts come as the sweeping credit-card rules that Congress passed go into effect in February prohibiting certain fees on consumers.

Petitions are prominently displayed at 7-Eleven checkout counters.

The 7-Eleven petition drive will continue through Aug. 10. Top signature-gatherers from each of 7-Eleven's seven U.S. geographical divisions will be flown to Washington to deliver the signatures to Congress.