Mastercard Articles

First Prev Page of 1 Next Last Show per page, 20 total
Headline

Visa, Mastercard Face Next Fight In $6.2 Billion Settlement

September 18, 2018

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’ cards, according to a regulatory filing on Tuesday.

American Express Prevails in Supreme Court Case

June 26, 2018

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.

House Committee Hearing Today on Financial Choice Act

April 26, 2017

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.

Rep. Wagner Visits Missouri TravelCenters of America

April 21, 2017

Rep. Wagner Visits Missouri TravelCenters of America

TravelCenters of America and NATSO hosted Rep. Ann Wagner (R-Mo.) at TA’s 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.

Rep. Hensarling to Introduce Legislation to Repeal Durbin Amendment

April 12, 2017

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.

Retailers Urge Congress to Protect Debit Fee Reform

January 13, 2017

Retailers Urge Congress to Protect Debit Fee Reform

More than 760 members of the retail community including NATSO members urged Congress to refrain from taking up any legislation that seeks to repeal debit card swipe fee reform, commonly known as the “Durbin Amendment.”

NATSO Members Urged to Sign Letter Opposing Repeal of Swipe Fee Reform

January 4, 2017

NATSO Members Urged to Sign Letter Opposing Repeal of Swipe Fee Reform

NATSO 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 “Durbin Amendment.”

NATSO CEO: Court's Reversal of Visa, MasterCard $7.25 Billion Settlement Major Victory

July 1, 2016

NATSO CEO: Court's Reversal of Visa, MasterCard $7.25 Billion Settlement Major Victory

NATSO 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.

Visa, Mastercard $7.25 Billion Settlement Void

June 30, 2016

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.

Kroger Sues Visa Over Signature vs. PIN in Debit Transactions

June 30, 2016

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. NATSO continues to actively urge members of Congress to examine the payments system, arguing that PIN authentication is the most secure, cost-effective solution.

Credit Card Companies Announce Plans to Expedite EMV Equipment Certification, Reduce Chargebacks

June 26, 2016

Credit Card Companies Announce Plans to Expedite EMV Equipment Certification, Reduce Chargebacks

Recognizing the growing and unacceptable problem with chargebacks, Visa has announced modifications to EMV certification and chargeback requirements, and shortly thereafter MasterCard and American Express followed suit. These announcements undoubtedly came in response to growing pressure from retailers and their advocates that the EMV liability shift has resulted in an excessive and unfair increase in chargebacks that retailers have absorbed, often with no viable method for avoiding them.

Home Depot Sues Visa, MasterCard over EMV Switch

June 20, 2016

Home Depot Sues Visa, MasterCard over EMV Switch

Home Depot Inc. has filed an antitrust lawsuit against Visa and MasterCard, adding to claims from a previous lawsuit alleging that retailers pay too much in swipe fees by now questioning chip-based cards' effectiveness in reducing fraud without PIN authentication.

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.

Tolling, Commercialization, Swipe Fees: NATSO Responds to Challenges in 2012

December 24, 2012

Tolling, Commercialization, Swipe Fees: NATSO Responds to Challenges in 2012

If there was ever a year when NATSO was challenged on all of its major issues, it was 2012. NATSO's top issues--rest area commercialization, tolling and credit card swipe fees--were all in play throughout the year, with a big test early in the year on the rest area commercialization issue. And though we passed the test, there is always more to be done. But NATSO moves into 2013 with optimism and momentum in a positive direction, committed to continue protecting the interests of Interstate-based businesses.

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.

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.

First Prev Page of 1 Next Last Show per page, 20 total