Credit/Debit Fees

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Credit Card Settlement - Important Considerations for NATSO Members

February 21, 2013

Credit Card Settlement - Important Considerations for NATSO Members

NATSO has developed an online memo and other documents to provide you with the information you need to consider the your options related related to the settlement.

Credit Card Settlement Appeal Delayed Until Fall

February 11, 2013

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.

Judge Denies Request to Block Preliminary Approval of Swipe Fee Settlement

December 17, 2012

Judge Denies Request to Block Preliminary Approval of Swipe Fee Settlement

A federal appeals court panel has denied an appeal aimed at reversing preliminary approval of the $7.25 billion settlement of the antitrust case against Visa and Mastercard.

NATSO, Other Plaintiffs to Appeal Swipe Fee Settlement

November 19, 2012

NATSO, Other Plaintiffs to Appeal Swipe Fee Settlement

To force merchants into an 'agreement' with Visa and MasterCard that leaves them worse off than without it -- that just goes against all notions of fairness.

Swipe Fee Settlement is Granted Preliminary Approval

November 12, 2012

Swipe Fee Settlement is Granted Preliminary Approval

Despite unprecedented opposition from merchants, on Friday a federal judge gave preliminary approval of a $7.2 billion settlement of litigation against Visa, MasterCard and several large banks.

Majority of Named Plaintiffs Oppose Visa, MasterCard Settlement

October 15, 2012

Majority of Named Plaintiffs Oppose Visa, MasterCard Settlement

NATSO last week joined a majority of the named plaintiffs in announcing their opposition to the proposed antitrust settlement agreement with Visa, MasterCard and some of the largest banks that were filed on Oct. 12.

Durbin Says Interchange Reform Showing Results

October 1, 2012

Durbin Says Interchange Reform Showing Results

Assistant Majority Leader Dick Durbin (D-Ill.) sent a letter to the American Bankers Association (ABA) last week refuting the association's claims that swipe fee reform is a mistake.

GAO Confirms Debit Fee Reform Helped Small Banks

September 24, 2012

GAO Confirms Debit Fee Reform Helped Small Banks

GAO last week confirmed that the debit fee reform implemented Oct. 1, 2011, has helped community banks and credit unions.

NATSO Joins Retail Groups Asking Congress to Reject Claims by Visa, MasterCard

September 24, 2012

NATSO Joins Retail Groups Asking Congress to Reject Claims by Visa, MasterCard

NATSO joined a group of associations representing retailers to highlight the reasons behind the growing opposition to the proposed settlement of the long-standing antitrust lawsuit filed by merchants against Visa, MasterCard and the nation’s largest banks.

NATSO Rejects Proposed Settlement in Antitrust Litigation

September 10, 2012

NATSO Rejects Proposed Settlement in Antitrust Litigation

NATSO's executive committee determined that the settlement would not be in the best interest of merchants, including NATSO members.

Fed Rule Allows Banks to Charge Merchants "Fraud Prevention" Fee

August 6, 2012

Fed Rule Allows Banks to Charge Merchants "Fraud Prevention" Fee

The Federal Reserve Board last week announced approval of a final rule that allows debit card issuing banks with more than $10 billion in assets to charge a one cent fraud prevention fee.

Federal Reserve Releases Report on Debit Interchange Fees

May 7, 2012

Federal Reserve Releases Report on Debit Interchange Fees

Small banks have been unaffected by the changes to debit card transaction fees under last year's Dodd-Frank Wall Street Reform and Consumer Protection Act and competition remains absent from the debit payment market, according to a new report issued by the Federal Reserve last week.

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