Credit/Debit Fees

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EMV Shift: The Good, The Bad and The Ugly

February 25, 2016

EMV Shift: The Good, The Bad and The Ugly

Complying with the EMV shift—the move to align credit and debit cards in the United States with proprietary chip technology—is extremely complex and expensive for merchants, and does not do enough to protect retailers from fees and risks associated with fraud, said Mallory Duncan vice president and general counsel at the National Retail Federation.

How To Pursue Your Claim Against VISA and MasterCard for Antitrust Violations

November 30, 2015

How To Pursue Your Claim Against VISA and MasterCard for Antitrust Violations

NATSO served as one of several plaintiffs in a class-action lawsuit against VISA and MasterCard (In re Payment Card Interchange Fee & Merchant Discount Antitrust Litigation). This lawsuit was brought on behalf of merchants who accepted those companies' payment cards in the United States since January 1, 2004. Over NATSO's objection, the district court approved a settlement of that class action for a cash payment and an injunction requiring VISA and MasterCard to change some of their rules for accepting their payment cards.

Judge Throws Out Amex Settlement With Merchants

August 5, 2015

Judge Throws Out Amex Settlement With Merchants

A federal judge rejected a settlement between American Express and merchants over credit card fees after discovering that the merchants' lawyer inappropriately communicated privileged details of the case with an attorney for MasterCard. The decision, which could have ripple effects for another settlement agreement between many of the same merchants and MasterCard and Visa, means that the merchants and Amex will have to renegotiate the deal or possibly go to trial.

AmEx Seeks Emergency Stay of Anti-Trust Order

June 1, 2015

AmEx Seeks Emergency Stay of Anti-Trust Order

American Express on May 26 filed an emergency request with the U.S. Court of Appeals for the Second Circuit to pause an injunction that bars the company from prohibiting merchants from steering customers toward a particular card or payment method.

California Surcharge Ban Ruled Unconstitutional

April 11, 2015

California Surcharge Ban Ruled Unconstitutional

A federal judge ruled March 26 that a California law banning retailers from charging customers a surcharge on credit card purchases is unconstitutional because it is too vague and violates the First Amendment right of free speech, PYMNTS.com has reported.

Supreme Court Denies Swipe Fee Appeal

January 26, 2015

Supreme Court Denies Swipe Fee Appeal

The U.S. Supreme Court on Jan. 20 declined to hear a challenge to the Federal Reserve’s rule over transaction fees that retailers are forced to charge customers when they swipe a debit card.

Sen. Durbin Asks Supreme Court to Review Debit Fee Case

September 26, 2014

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.

Retailers Petition Supreme Court to Hear Swipe Fee Ruling

August 20, 2014

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’s highest court to hear the case.

Retailers Set to Ask Supreme Court to Hear Swipe Fee Case

June 5, 2014

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’s highest court to hear the case.

Court Upholds Interchange Fees; Disappoints Retailers

March 21, 2014

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’s decision last year that the Federal Reserve had set the cap on debit card transactions too high.

Take Advantage of a Merchant Account Analysis at The NATSO Show

January 13, 2014

Take Advantage of a Merchant Account Analysis at The NATSO Show

Payment processing fees take a big bite out of your profits, but since 2005, NATSO members have saved tens of thousands of dollars annually through NATSO's First Data program.

Reports Detail Consumer Benefits From Swipe Fee Reform

December 12, 2013

Reports Detail Consumer Benefits From Swipe Fee Reform

Swipe fee reform is benefitting consumers by forcing banks to compete, according to a December report released by the Kansas City Federal Reserve Bank. The detailed 36-page report shows that for the average customer, free checking became more available after interchange fee reform. The report also proves that detractors’ skewed studies based on partial information are wrong.

Federal Reserve Files Appeal in Swipe Fee Litigation

October 25, 2013

Federal Reserve Files Appeal in Swipe Fee Litigation

The U.S. Federal Reserve Board has filed its appeal of U.S. District Judge Richard Leon's decision that rejected the swipe fee rules that have been in place since October 2011, arguing that it followed the law. The Fed also accused retailers of a misguided interpretation of certain aspects of the legislation.

Swipe Fees to Remain in Place While Court Decides Federal Reserve’s Appeal

September 23, 2013

Swipe Fees to Remain in Place While Court Decides Federal Reserve’s 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.

Federal Reserve Seeks to Maintain Debit Fee Cap During Appeal

August 28, 2013

Federal Reserve Seeks to Maintain Debit Fee Cap During Appeal

The Federal Reserve has asked the court to keep the current regulations governing swipe fees in place while it appeals the recent ruling by the U.S. District Court in Washington that it set the cap on debit card transactions too high.

Federal Reserve Appeals Debit Fee Ruling

August 22, 2013

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.

Could Retailers Get Repaid for Debit Fee Overcharges?

August 16, 2013

Could Retailers Get Repaid for Debit Fee Overcharges?

The judge who rejected the Federal Reserve’s 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.

Judge Agrees With Retailers; Rejects Debit Card Swipe Fee Rule

July 31, 2013

Judge Agrees With Retailers; Rejects Debit Card Swipe Fee Rule

A Judge for the U.S. District Court in Washington this morning rejected the Federal Reserve’s regulations governing swipe fees under the Dodd-Frank Wall Street Reform and Consumer Protection Act, ruling that the agency set the cap too high on debit-card transactions.

Durbin, Welch Ask Federal Reserve to Revisit Debit Fee Levels

July 29, 2013

Durbin, Welch Ask Federal Reserve to Revisit Debit Fee Levels

Senator Dick Durbin (D-Ill.) and Rep. Peter Welch (D-Vt.) have asked the Federal Reserve Board to revisit the fee levels set in the debit fee rules standard established after passage of the Dodd-Frank Wall Street Reform legislation.

Merchants Criticize Federal Reserve Decision to Maintain Interchange Fee Standards

March 11, 2013

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.

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