Swipe Fee Reform

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

04-26-2017 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

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

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

06-20-2016 by NATSO Debit Card Swipe Fee Reform is Under Attack

There is a coordinated effort underway to repeal debit card swipe fee reform known as the Durbin Amendment. This is a serious concern for the travel plaza and truckstop industry, which has benefited from the certainty, transparency, and competition that the Durbin Amendment provided into the debit card payment system market. If these efforts are successful, debit card swipe fees would likely skyrocket again.

Payment Systems

06-20-2016

06-10-2016 by NATSO Key Lawmaker Proposes Repeal of Durbin Amendment

Rep. Jeb Hensarling (R-Texas) Chairman of the House Committee on Financial Services, announced that he will introduce legislation in the coming weeks to overhaul significant parts of the Dodd-Frank financial regulations.

Payment Systems

06-10-2016

06-05-2014 by NATSO Retailers Set to Ask Supreme Court to Hear Swipe Fee Case

The legal challenge over transaction fees that retailers are forced to charge customers when they swipe a debit card could head to the Supreme Court, after the National Retail Federation said it plans to petition the nation鈥檚 highest court to hear the case.

Payment Systems

06-05-2014

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.

Payment Systems

03-21-2014

09-23-2013 by NATSO Swipe Fees to Remain in Place While Court Decides Federal Reserve鈥檚 Appeal

The U.S. District Court in Washington has agreed to maintain the current regulations governing swipe fees while the Federal Reserve appeals the recent ruling that it set the cap on debit transactions too high.

09-23-2013

08-22-2013 by NATSO Federal Reserve Appeals Debit Fee Ruling

The Federal Reserve announced late Aug. 21 that it will appeal the recent ruling by the U.S. District Court in Washington that it set the cap on debit card transactions too high.

08-22-2013

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