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05-02-2017 by NATSO House Committee to Consider Legislation Repealing Debit Fee Reform

The House Financial Services Committee is scheduled to meet today May 2 to consider legislation that would roll back many of the reforms contained in the Dodd Frank Wall Street Reform Act, including the so-called Durbin Amendment, which implemented much-needed debit reforms. The legislation is likely to be approved by the Committee, setting up the potential for the full House of Representatives to consider the legislation in the coming weeks.
05-02-2017
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03-21-2014 by NATSO Court Upholds Interchange Fees; Disappoints Retailers

A U.S. Appeals Court on March 21 upheld the Federal Reserve’s rules governing debit card interchange fees, dealing a major blow to retailers who have fought to reduce the transaction fees they are charged when customers swipe a debit card. The ruling reverses a lower court鈥檚 decision last year that the Federal Reserve had set the cap on debit card transactions too high.
03-21-2014
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08-16-2013 by NATSO Could Retailers Get Repaid for Debit Fee Overcharges?

The judge who rejected the Federal Reserve鈥檚 regulations governing debit fees under the Dodd-Frank Wall Street Reform and Consumer Protection Act gave the Federal Reserve just one more week to come up with a position on interim fee reductions and a timeline for permanently installing new lower fees. He also suggested that retailers should be repaid by financial services companies for millions of dollars in overcharges.
08-16-2013
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04-19-2013 by NATSO You Have Questions. We Have Answers.

One of NATSO鈥檚 primary roles is to deliver solutions to members鈥� challenges. Each day members tap into the expertise of NATSO鈥檚 staff for answers to some of their most pressing questions. Stop Watch compiled some recent member inquiries and sat down with Darren Schulte, NATSO鈥檚 vice president of membership, for detailed answers.
04-19-2013
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03-11-2013 by NATSO Merchants Criticize Federal Reserve Decision to Maintain Interchange Fee Standards

In issuing its bi-annual report on swipe fees as required by law, the Federal Reserve last week said it would keep the existing interchange fee standards and fraud prevention adjustments the same. The per-transaction cap remains at 21 cents and also allows for an additional charge of 0.01 cent to cover fraud as well as .05 percent of the sales amount.
03-11-2013
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02-11-2013 by NATSO Credit Card Settlement Appeal Delayed Until Fall

The U.S. Court of Appeals has ruled that an appeal of the proposed swipe fee settlement should wait until after objections to the settlement are filed and heard next fall. That means that settlement notices to retailers across the country can continue to be distributed, and that retailers will have the opportunity to opt out of the monetary portion of the case and/or object to the proposed settlement. Notices will be sent to retailers who accepted Visa and/or MasterCard at any time between Jan. 1, 2004 and Nov. 27, 2012. Even if retailers submitted a declaration objecting to the proposed settlement last fall, they must respond to the notice and submit something in writing again if they want to opt-out of or object to the proposed settlement.
02-11-2013

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