Mastercard - NATSO

04-15-2019 by NATSO Guidance on Visa, Mastercard Swipe Fee Class-Action Settlement

A federal Court has preliminarily approved a proposed settlement of a maximum of approximately $6.24 billion and a minimum of at least $5.54 billion in a class action lawsuit, called In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, MDL 1720 (MKB) (JO). The lawsuit is about claims that merchants paid excessive fees to accept Visa and Mastercard cards because Visa and Mastercard, individually, and together with their respective member banks, violated the antitrust laws. A number of 黑料社区members who may be a part of this class have sought guidance as to how this process will proceed and what steps they should take as part of this process.

04-15-2019

09-18-2018 by NATSO Visa, Mastercard Face Next Fight In $6.2 Billion Settlement

In the largest-ever class-action settlement of a U.S. antitrust case, Visa and Mastercard agreed to pay between $5.54 billion and $6.24 billion to a class of more than 12 million merchants who accept the payment networks鈥� cards, according to a regulatory filing on Tuesday.

09-18-2018

06-26-2018 by NATSO American Express Prevails in Supreme Court Case

The U.S. Supreme Court on June 25 handed down a decision in the case of Ohio v. American Express, ruling that American Express did not violate the Sherman Antitrust Act. The decision comes after a long battle that started in 2010 when the U.S. Department of Justice (DOJ), in conjunction with several state attorneys general, brought the case against Visa, Mastercard and American Express arguing that the rules promulgated by the card networks preventing merchants from offering discounts were a violation of antitrust laws.

Payment Systems

06-26-2018

04-26-2017 by NATSO House Committee Hearing Today on Financial Choice Act

House Financial Services Committee Chairman Jeb Hensarling (R-Texas) will hold a hearing today to discuss the Financial Choice Act, which contains a provision to repeal the debit card swipe fee reforms implemented under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Payment Systems

04-26-2017

04-21-2017 by NATSO Rep. Wagner Visits Missouri TravelCenters of America

TravelCenters of America and 黑料社区hosted Rep. Ann Wagner (R-Mo.) at TA鈥檚 Foristell, Mo., location April 19 as part of a congressional site visit designed to discuss issues of importance to the truckstop and travel plaza community.

04-21-2017

04-12-2017 by NATSO Rep. Hensarling to Introduce Legislation to Repeal Durbin Amendment

House Financial Services Committee Chairman Jeb Hensarling (R-Texas) is expected to introduce legislation before the end of this month that would repeal debit card swipe fee reform, commonly known as the Durbin Amendment.

04-12-2017

01-13-2017 by NATSO Retailers Urge Congress to Protect Debit Fee Reform

More than 760 members of the retail community including 黑料社区members urged Congress to refrain from taking up any legislation that seeks to repeal debit card swipe fee reform, commonly known as the 鈥淒urbin Amendment.鈥�

Payment Systems

01-13-2017

01-04-2017 by NATSO 黑料社区Members Urged to Sign Letter Opposing Repeal of Swipe Fee Reform

黑料社区has learned that U.S. Rep. Jeb Hensarling (R-Texas), Chairman of the House Financial Services Committee, is expected as early as next week to introduce legislation that seeks to repeal debit card swipe fee reform, commonly known as the 鈥淒urbin Amendment.鈥�

01-04-2017

07-01-2016 by NATSO 黑料社区CEO: Court’s Reversal of Visa, MasterCard $7.25 Billion Settlement Major Victory

黑料社区President and CEO Lisa Mullings today said the decision by the U.S. Court of Appeals for the Second Circuit to reverse the $7.25 billion antitrust settlement that Visa and MasterCard had reached with millions of retailers over the high transaction fees that retailers pay each time a customer uses a credit card marks a major victory for retailers.

Payment Systems

07-01-2016

06-30-2016 by NATSO Kroger Sues Visa Over Signature vs. PIN in Debit Transactions

The lawsuit is just the latest in a series of lawsuits that large merchants have filed against credit card companies over restrictions on PIN authentication. 黑料社区continues to actively urge members of Congress to examine the payments system, arguing that PIN authentication is the most secure, cost-effective solution.

Payment Systems

06-30-2016

06-30-2016 by NATSO Visa, Mastercard $7.25 Billion Settlement Void

Marking a major victory for retailers, a federal appeals court today threw out the $7.25 billion antitrust settlement that Visa and MasterCard had reached with millions of retailers over the high swipe fees that retailers pay each time a customer uses a credit card ruling that it was unfair to retailers who stood to receive no payments and little or no benefit.

06-30-2016