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...
Last week, a federal judge rejected Visa and Mastercard’s $30 billion settlement with merchants. Now, new court filings provide more detail about U.S. District Judge Margo Brodie’s rejection of the deal in the decades-old litigation between the two payments giants and retailers over credit card...
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 […]
June 25, 2024
Nothing’s settled, it seems — except that the $30 billion so-called “swipe fee” settlement is, at least in this incarnation, seemingly dead and gone. And what comes next is almost...
June 07, 2023
If at first you don’t succeed, try, try again. That seems to be the prevailing sentiment Wednesday (June 7) when it was announced that the Credit Card Competition Act legislation is...
February 05, 2020
In today’s top payments news, former Bank of France Governor Christian Noyer said a centralized, global eCurrency is still at least a decade away, the U.S. economy could lose $10.3...
July 05, 2024
Visa and Mastercard have reportedly agreed to extend caps on tourist card fees in Europe. As Reuters reported Friday (July 5), the card companies and European Union regulators had originally agreed to the caps five years ago, and will now extend them to 2029. The report notes that Visa and Mastercard had initially agreed to the fee cap — 0.2% […]
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 30, 2024
Last week, a federal judge rejected Visa and Mastercard’s $30 billion settlement with merchants. Now, new court filings provide more detail about U.S. District Judge Margo Brodie’s rejection of the...
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...
