21 Cent Swipe Fee Cap Remains after Appeal

Last Friday, a federal appeals court upheld the Federal Reserve's 21-cent cap on swipe fees that banks are allowed to charge merchants on debit card transactions. In 2011, Congress asked the central bank to establish a "reasonable" cap for interchange … Continue reading

Retailers to Appeal $7.25 Billion Swipe Fee Settlement

Retailers continue to fight hard against the $7.25 billion interchange fee settlement between merchants and Visa, MasterCard and several banks. On Tuesday, ten merchants and trade groups filed notice that they will challenge the settlement of this swipe fee price-fixing … Continue reading

Swipe Fee Settlement Gets Preliminary Approval

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

Retailers Continue to Battle Credit Card Settlement

The majority of plaintiffs named in the record $6 billion class-action settlement with Visa and MasterCard are now mounting an eleventh-hour effort to block the settlement. Ten of the 19 trade groups and retailers feel the settlement leaves issuers with … Continue reading

Restaurants Join Growing Opposition to Swipe Fee Settlement

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

Major Retailers Oppose Swipe Fee Settlement

Many analysts considered the $7.25 billion credit card interchange fee settlement to be a significant victory for retailers. But the world's two largest retailers, Walmart and Target, have both come out against the proposed settlement. They join the National Association … Continue reading

Credit Card Users Could Lose in Swipe Fee Settlement

Retailers reached an antitrust settlement on interchange fees with Visa, MasterCard and several large banks that will be good for merchants but might penalize cardholders with higher prices or decreased credit card rewards. The $7.25 billion dollar settlement allows retailers to … Continue reading