July 24, 2021
As a merchant who sees my pocket picked every day by Visa, Mastercard and the big banks, I strongly believe it’s time for Congress and the nation’s banking regulators to do something about the growing problem of “swipe” fees.
June 28, 2021
Plans for card network giants Visa and Mastercard to raise interchange fees in April were met with resistance among merchants and politicians, as many businesses are still working to overcome challenges wrought by the past year’s events.
May 18, 2021
The Merchants Payments Coalition called on the Federal Reserve to revise debit card swipe fee regulations adopted a decade ago, citing a new Fed report showing banks’ average cost of processing the transactions has fallen by half.
May 13, 2021
The Fed will review whether a rule requiring options in routing debit transactions is being followed, but angered merchants when it kept the cost basis for a national debit fee cap unchanged.
April 22, 2021
Regulatory, legislative and court confrontations over the card network companies’ fees are ratcheting up pressure again for reform of the behemoths’ practices. Senate Majority Whip Dick Durbin was riled up when he leaned into his microphone to speak last month at an antitrust subcommittee hearing. The source of his consternation? The dominance of Visa and […]
March 19, 2021
The Justice Department is looking at Visa Inc’s debit practices, the company said on Friday, after reports the United States was investigating whether the credit card company uses anticompetitive practices in the debit-card market.