Topics: Credit/Debit Fees

NATSO Members, Merchants Coalition Oppose Repeal of Durbin Amendment

Many NATSO members joined more than 120 companies representing a broad cross-section of the U.S. economy in urging Members of Congress to reconsider legislation that would repeal debit card fee reforms implemented under the Durbin Amendment of the Dodd-Frank Wall Street Reform Act. More

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. More

NATSO CEO: Court's Reversal of Visa, MasterCard $7.25 Billion Settlement Major Victory

NATSO President and CEO Lisa Mullings today said the decision by the U.S. Court of Appeals for the Second Circuit to reverse the $7.25 billion antitrust settlement that Visa and MasterCard had reached with millions of retailers over the high transaction fees that retailers pay each time a customer uses a credit card marks a major victory for retailers. More

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. More

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. More

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. More

EMV Shift: The Good, The Bad and The Ugly

Complying with the EMV shift—the move to align credit and debit cards in the United States with proprietary chip technology—is extremely complex and expensive for merchants, and does not do enough to protect retailers from fees and risks associated with fraud, said Mallory Duncan vice president and general counsel at the National Retail Federation. More

How To Pursue Your Claim Against VISA and MasterCard for Antitrust Violations

NATSO served as one of several plaintiffs in a class-action lawsuit against VISA and MasterCard (In re Payment Card Interchange Fee & Merchant Discount Antitrust Litigation). This lawsuit was brought on behalf of merchants who accepted those companies' payment cards in the United States since January 1, 2004. Over NATSO's objection, the district court approved a settlement of that class action for a cash payment and an injunction requiring VISA and MasterCard to change some of their rules for accepting their payment cards. More

Judge Throws Out Amex Settlement With Merchants

A federal judge rejected a settlement between American Express and merchants over credit card fees after discovering that the merchants' lawyer inappropriately communicated privileged details of the case with an attorney for MasterCard. The decision, which could have ripple effects for another settlement agreement between many of the same merchants and MasterCard and Visa, means that the merchants and Amex will have to renegotiate the deal or possibly go to trial. More

AmEx Seeks Emergency Stay of Anti-Trust Order

American Express on May 26 filed an emergency request with the U.S. Court of Appeals for the Second Circuit to pause an injunction that bars the company from prohibiting merchants from steering customers toward a particular card or payment method. More

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