Topics: Payment Systems

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. More

Take Advantage of a Merchant Account Analysis at The NATSO Show

Payment processing fees take a big bite out of your profits, but since 2005, NATSO members have saved tens of thousands of dollars annually through NATSO's First Data program. More

Reports Detail Consumer Benefits From Swipe Fee Reform

Swipe fee reform is benefitting consumers by forcing banks to compete, according to a December report released by the Kansas City Federal Reserve Bank. The detailed 36-page report shows that for the average customer, free checking became more available after interchange fee reform. The report also proves that detractors’ skewed studies based on partial information are wrong. More

Federal Reserve Files Appeal in Swipe Fee Litigation

The U.S. Federal Reserve Board has filed its appeal of U.S. District Judge Richard Leon's decision that rejected the swipe fee rules that have been in place since October 2011, arguing that it followed the law. The Fed also accused retailers of a misguided interpretation of certain aspects of the legislation. More

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. More

Federal Reserve Seeks to Maintain Debit Fee Cap During Appeal

The Federal Reserve has asked the court to keep the current regulations governing swipe fees in place while it appeals the recent ruling by the U.S. District Court in Washington that it set the cap on debit card transactions too high. More

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. More

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. More

Judge Agrees With Retailers; Rejects Debit Card Swipe Fee Rule

A Judge for the U.S. District Court in Washington this morning rejected the Federal Reserve’s regulations governing swipe fees under the Dodd-Frank Wall Street Reform and Consumer Protection Act, ruling that the agency set the cap too high on debit-card transactions. More

Durbin, Welch Ask Federal Reserve to Revisit Debit Fee Levels

Senator Dick Durbin (D-Ill.) and Rep. Peter Welch (D-Vt.) have asked the Federal Reserve Board to revisit the fee levels set in the debit fee rules standard established after passage of the Dodd-Frank Wall Street Reform legislation. More

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