18 States Considering Ban on Credit Card Surcharges Eighteen states are now considering legislation that would bar retailers from imposing surcharges when consumers use their credit cards. Ten states have already imposed bans on credit card surcharges, which limited the potential impact of … Continue reading
Visa has lifted the ban that prohibits its retail partners from offering special deals to customers that paid with a specific bank's credit or debit card, according to the American Banker. New Visa CEO Charles Scharf was behind the change … Continue reading
A New Jersey state assembly committee today approved a bill that would prohibit retailers from imposing a surcharge on credit card transactions in the state. The bill moves on to the full assembly. There is similar legislation in the state … Continue reading
A number of major retail chains and associations are assuring consumers that they will not implement a surcharge on consumers making a purchase by credit card. When customers use a credit card, the retailer is charged an interchange or swipe … Continue reading
Despite an outcry from retailers and trade groups, the proposed $7.25 billion settlement between merchants and Visa, MasterCard and several large banks over interchange fees took another step to becoming reality on Friday when a federal judge granted preliminary approval … Continue reading
U.S. Credit Card Lenders Shun Add-Ons as CFPB Cracks Down Chase, Bank of America and American Express are among credit card lenders retreating from a $2.4 billion market as regulators seek curbs on deceptive marketing of products including debt cancellation. Scrutiny … Continue reading
It has been exactly one year since the debit card swipe fee regulations reduced the interchange fee that merchants paid to banks and card processors. Retailers and merchants appear to be the big winners from this reduced fee that resulted … Continue reading
Another major trade association has come out against the $7.25 billion settlement between some retailers and Visa and MasterCard over the interchange fees on credit card transactions. Today, the National Restaurant Association announced that it is opposing this settlement because … Continue reading