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.
03-11-2013 I am a firm believer in the power of knowledge, and I feel we all owe it to ourselves and our businesses to learn something new each day. Gathering information and then sharing it with each other keeps us moving toward a future that is full of promise. As an industry, we can collaborate with each other and share ideas that spur the innovation that will take us into tomorrow.
03-01-2013 In May, NATSO members from across the country will assemble on Capitol Hill and meet face-to-face with their lawmakers to discuss the key issues facing the truckstop and travel plaza industry and protect the businesses they’ve spent years building.
03-01-2013 Wyoming Gov. Matt Mead (R) has signed a bill that will increase the state’s tax on diesel and gasoline to 24 cents beginning in July, up from the current 14-cent-per-gallon tax.
02-25-2013 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.
02-11-2013 The 113th Congress was sworn into office last week on January 3 and as lawmakers settled in to their new offices both parties confirmed committee assignments within their caucuses.
01-07-2013 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.
12-17-2012 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.
11-19-2012 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.
11-12-2012 NATSO announced today that it has joined others in rejecting a proposed settlement of the antitrust lawsuit brought by merchants, including NATSO, alleging that Visa, MasterCard and national banks collude to set artificially high swipe fees.
09-10-2012 NATSO’s annual Congressional Pie Reception featured in The Washington Scene.
05-21-2012