After listening to and scrolling through days of “expert” commentary about the lawsuit filed by the DOJ against Visa over debit interchange, I feel compelled to weigh in. Big headlines about big companies — especially concerning DOJ allegations of anticompetitive behaviors and lawsuits to signal...
The arguably natural consequences of fee caps and limits on debit interchange — and the uncertainty of the regulatory climate — are now showing up with an anticipated pullback by banks on traditionally “free” services and products. Amid that pullback, there’s opportunity for neobanks, the...
After three days of sparse quotes and speculation, the New York Eastern District court judge presiding over the latest chapter in the proposed credit card swipe fee settlement between Visa, Mastercard and millions of merchants has posted her 88-page opinion. The opinion comes almost a...
The Supreme Court handed a victory to retailers battling debit card “swipe fees.” The high court’s 6-3 ruling Monday (July 1) sided with the plaintiffs in a case challenging a Federal Reserve rule on the amount businesses pay banks when customers make purchases with debit...
July 02, 2024
After three days of sparse quotes and speculation, the New York Eastern District court judge presiding over the latest chapter in the proposed credit card swipe fee settlement between Visa, Mastercard and millions of merchants has posted her 88-page opinion. The opinion comes almost a week after U.S, District Judge Margo K. Brodie indicated she […]
May 23, 2024
The Federal Reserve’s proposal to lower debit interchange fee caps has drawn a flurry of responses — roughly 2,500 responses, in fact — from trade organizations representing merchants and financial...
March 06, 2024
In the bid to build out a pan-European card network, will it be different this time? More than a decade ago, the Monnet Project Association, a group of 24 European...
January 24, 2024
The debate over debit card interchange fees — and the cap on those fees — looks set to rage for at least a few more months. The Federal Reserve said in...
October 08, 2024
U.S. Sen. Dick Durbin of Illinois is supporting an Illinois law that will bar the charging of interchange fees on the tax and tip portions of credit and debit card transactions. Durbin, who is U.S. Senate majority whip and author of the Durbin Amendment, filed an amicus brief in support of the Illinois Interchange Fee […]
July 01, 2024
The Supreme Court handed a victory to retailers battling debit card “swipe fees.” The high court’s 6-3 ruling Monday (July 1) sided with the plaintiffs in a case challenging a...
June 13, 2024
Credit card swipe fee litigation that has been fought for two decades is reportedly likely to remain unresolved for some time longer. A federal judge is likely to reject a...
June 07, 2024
Visa and Mastercard are facing new lawsuits over multilateral interchange fees. The United Kingdom Competition Appeal Tribunal ruled Friday (June 7) that collective proceedings — which are similar to class...
