Another Suit Filed Over Credit Card Swipe Fees

Credit Cards

Another Suit Filed Over Credit Card Swipe Fees

Another Suit Filed Over Credit Card Swipe Fees

The battle over credit card swipe fees rages on as a new lawsuit has been filed against the multi-billion dollar settlement that is just months from being finalized. The $7.25 billion proposed settlement between Visa and MasterCard, and a large number of retail groups and chains, has drawn significant opposition from many well-known national stores,… Read More

More Companies Opting Out of Swipe-Fee Settlement

Credit Cards

More Companies Opting Out of Swipe-Fee Settlement

More Companies Opting Out of Swipe-Fee Settlement

A massive, controversial settlement between a number of retailer groups and the world’s two largest processors of debit and credit card payments is looming, but now, more companies are opting out of the deal on the grounds that they feel it is unfair to them going forward. A total of 19 companies have opted out… Read More

18 States That May Ban Credit Card Surcharges

Credit Cards

18 States That May Ban Credit Card Surcharges

18 States That May Ban Credit Card Surcharges

More states are hopping on the bandwagon, as 18 are considering banning retailers from including credit card surcharges, according to American Banker. The states proposed the ban after new rules that would allow merchants to impose surcharges on MasterCard and Visa purchases. The states considering the move are Arkansas, Hawaii, Illinois, Indiana, Kentucky, Maryland, Michigan,… Read More

Federal Reserve Opts Not to Change Debit Card Swipe Fee

Credit Cards

Federal Reserve Opts Not to Change Debit Card Swipe Fee

Federal Reserve Opts Not to Change Debit Card Swipe Fee

Federal regulators drew a lot of ire from payment processing companies a while ago when they placed limits on the amount those companies could charge to merchants for accepting debit payments, but the nation’s central bank recently reaffirmed its stance on these fees and said it would not allow them to be changed. The current… Read More

Many States Weighing Credit Card Surcharge Bans

Credit Cards

Many States Weighing Credit Card Surcharge Bans

Many States Weighing Credit Card Surcharge Bans

A recent settlement between the world’s two largest processors of debit and credit card payments and a number of merchant groups allowed the latter to begin charging customers more for making payments with credit, but now a number of states are moving to ban this type of additional cost being passed on to consumers. When… Read More

Swipe-Fee Settlement Delayed Yet Again

Credit Cards

Swipe-Fee Settlement Delayed Yet Again

Swipe-Fee Settlement Delayed Yet Again

A proposed settlement between a number of retail groups and the world’s two largest processors of debit and credit card payments recently hit another snag as the judge in the case announced that an appeal announced in July cannot go into effect until September at least. The settlement was accepted only by a small handful… Read More

NRF Reassures Consumers Over Checkout Fees

Credit Cards

NRF Reassures Consumers Over Checkout Fees

NRF Reassures Consumers Over Checkout Fees

There has been considerable consumer angst in the wake of a new rule that allows merchants to charge more to customers who pay with credit cards, but now a major national retail group says that it’s very unlikely that most businesses will actually take advantage of the new allowance. Despite fears that the new rule… Read More

Merchant Credit Card Fee Settlement Inches Closer

Credit Cards

Merchant Credit Card Fee Settlement Inches Closer

Merchant Credit Card Fee Settlement Inches Closer

A controversial court case related to the way in which merchants pay fees for accepting credit and debit card transactions went through another development this week, as a judge rejected a request for a quicker decision in the proceedings. The Second U.S. Circuit Court of Appeals in New York recently denied the Home Depot’s request… Read More

Retailers File Swipe-Fee Settlement Appeal

Credit Cards

Retailers File Swipe-Fee Settlement Appeal

Retailers File Swipe-Fee Settlement Appeal

The massive battle over the amount of money charged to merchants by the world’s two largest processors of credit and debit card payments recently hit another bump in the road, as a group of retailers appealed the preliminary approval of the case’s settlement deal. The retail group, made up of 10 organizations, including the National… Read More

Substantial Payout to Retailers Looms for Visa, MasterCard

Credit Cards

Substantial Payout to Retailers Looms for Visa, MasterCard

Substantial Payout to Retailers Looms for Visa, MasterCard

The controversial settlement between a number of retail groups and the world’s two largest processors of debit and credit card payments is set to move forward after receiving preliminary approval, but objections to the deal still linger. U.S. District Court Judge John Gleeson recently said that the antitrust settlement between merchants groups and both Visa… Read More

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