swipe fee - 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

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

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

02-13-2017 by NATSO Retailers Push to Protect Debit Fee Reform

More than 900 members of the retail community including 黑料社区members urged Congress to refrain from taking up legislation that would repeal debit card swipe fee reform, commonly known as the 鈥淒urbin Amendment.鈥�

02-13-2017

07-06-2016 by NATSO NATSO, Merchants Coalition Oppose Repeal of Debit Reforms

黑料社区joined more than 160 national and state trade associations representing retailers and employers, in voicing strong opposition to H.R. 5465 and language in the CHOICE ACT that would repeal the debit reforms in the 2010 financial services reform legislation known as the Durbin Amendment.

07-06-2016

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

09-26-2014 by NATSO Sen. Durbin Asks Supreme Court to Review Debit Fee Case

Senator Dick Durbin (D-Ill.) has weighed in with the U.S. Supreme Court, arguing that the Federal Reserve’s rule on the debit “swipe fee” failed to follow the law, according to published reports.

09-26-2014

08-20-2014 by NATSO Retailers Petition Supreme Court to Hear Swipe Fee Ruling

The legal challenge over the transaction fees that retailers are forced to charge customers when they swipe a debit card moved one step closer to the Supreme Court Aug. 18, when retail and merchant groups petitioned the nation鈥檚 highest court to hear the case.

08-20-2014