Topics: Payment Systems

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. More

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. More

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. More

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. More

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. More

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. More

Fed Rule Allows Banks to Charge Merchants "Fraud Prevention" Fee

The Federal Reserve Board last week announced approval of a final rule that allows debit card issuing banks with more than $10 billion in assets to charge a one cent fraud prevention fee. More

Federal Reserve Releases Report on Debit Interchange Fees

Small banks have been unaffected by the changes to debit card transaction fees under last year's Dodd-Frank Wall Street Reform and Consumer Protection Act and competition remains absent from the debit payment market, according to a new report issued by the Federal Reserve last week. More

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