Credit Unions Today: Merchants Asking To Participate In Suit Over Illinois Swipe Fees Law
Three Merchants Payments Coalition member associations have asked permission to take part in a lawsuit over Illinois’ new law banning credit card swipe fees on sales taxes and tips, saying merchants’ perspective is needed to understand the high cost the fees impose on small business and their customers, the MPC reported.
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Merchants Go to Court to Protect Illinois Law Banning Swipe Fees on Sales Taxes and Tips
Three MPC member associations have asked permission to take part in a lawsuit over Illinois’ new law banning credit card swipe fees on sales taxes and tips, saying merchants’ perspective is needed to understand the high cost the fees impose on small business and their customers.
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Digital Transactions: Illinois’s Interchange Lawsuit Wins National Prominence As More Retail Organizations Voice Support
“In a way, this is becoming a national issue,” says (MPC Executive Committee member) Doug Kantor, general counsel for the National Association of Convenience Stores, who confirms NACS will be filing an amicus brief and requesting to intervene in the case. “Our concern is that banks can’t farm out credit and debit card pricing to non-banks, such as Visa and Mastercard, and expect to be protected under the National Bank Act” when state laws are passed that impact pricing.
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Inside Sources/DC Journal: The Backward Reasoning Behind Debit Card Fees
Op-ed by MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor says the DOJ's antitrust case "has made clear that Visa has bent the antitrust laws beyond recognition to monopolize the debit card network market."
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Restaurant Business: Justice Department adds muscle to restaurants' fight to temper credit-card swipe fees
“This is further evidence that Visa has regularly blocked competition in the debit card market,” said Doug Kantor, general counsel for the National Association of Convenience Stores and a leader of a cross-industry advocacy group called the Merchant Payments Coalition. The National Restaurant Association is a member of the coalition. “While this case is focused on debit cards, it shows how we desperately need competition over credit card swipe fees, which currently face no competition at all,” Kantor continued in his statement.
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Politico Influence: Swipe Fee Foes Double Down
The Merchants Payments Coalition, which represents retailers, proclaimed that the suit, while focused on debit cards, “shows how we desperately need competition over credit card swipe fees, which currently face no competition at all,” according to spokesperson Doug Kantor.
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Digital Transactions: Combatants Take Up Their Positions in Reaction to the DoJ’s Antitrust Suit Against Visa
The Merchants Payments Coalition also came out in support of the lawsuit, arguing that it is a response to Visa’s ongoing efforts to block competition in the debit card market. “Visa has relentlessly flouted the law to maintain a monopoly over setting fees for transactions made with cards issued under its brand and for processing those transactions,” Doug Kantor, an MPC executive committee member and general counsel for the National Association of Convenience Stores, said in a statement. While the MPC applauded the DoJ’s efforts to rein in Visa’s alleged control over the debit card industry. Kantor added that further competition is needed when it comes to credit card swipe fees “which currently face no competition at all.”
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Progressive Grocer: Justice Department Files Suit Against Visa Over Debit Card Practices
Multiple industry associations applauded the DOJ's actions, including the Merchants Payments Coalition, the National Retail Federation and the Retail Industry Leaders Association. "This is further evidence that Visa has regularly blocked competition in the debit card market," said Doug Kantor, MPC executive committee member and NACS general counsel. "Visa has relentlessly flouted the law to maintain a monopoly over setting fees for transactions made with cards issued under its brand and for processing those transactions. While this case is focused on debit cards, it shows how we desperately need competition over credit card swipe fees, which currently face no competition at all."
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MPC Hill Blast: The DOJ has sued Visa for antitrust law violations on debit cards
The Department of Justice has sued Visa for antitrust law violations on debit cards.
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Politico: Biden DOJ slaps Visa with antitrust suit over debit card dominance
Retail groups including the National Retail Federation and the Merchant Payments Coalition, which have long pushed for action curbing Visa and MasterCard, also lauded the case.
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