swipe fee Articles

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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.

House Committee to Consider Legislation Repealing Debit Fee Reform

May 2, 2017

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.

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 Push to Protect Debit Fee Reform

February 13, 2017

Retailers Push to Protect Debit Fee Reform

More than 900 members of the retail community including NATSO members urged Congress to refrain from taking up legislation that would repeal debit card swipe fee reform, commonly known as the “Durbin Amendment.”

NATSO, Merchants Coalition Oppose Repeal of Debit Reforms

July 6, 2016

NATSO, Merchants Coalition Oppose Repeal of Debit Reforms

NATSO 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.

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.

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.