Swipe Fee Reform Articles

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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.

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.

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.”

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.”

June 20, 2016

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.

Key Lawmaker Proposes Repeal of Durbin Amendment

June 10, 2016

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.

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.

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 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.

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.

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.

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.

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.

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