Swipe Fees In The News Again

In the latest round in the Swipe Fee settlement case, a federal judge ruled this week that banks and credit card companies had charged “inappropriately” inflated fees for debit cards in retail transactions.  In his ruling, Judge Richard Leon said the Fed set swipe fees that yielded “billions of dollars” more than Congress intended when…

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A virtual cup of coffee with DDIFO Executive Director Ed Shanahan

June 8th, 2013 – Fair Franchising, Tax Reform, Swipe Fees

Inequities in Franchise Relationship Are A Global Issue – Over the course of the past few weeks, we’ve reported on efforts to enact “fair franchising” legislation in Maine, California and Massachusetts.  Notwithstanding arguments by the IFA and others that infusing a more equitable balance into the franchise relationship would be devastating, the “land down under” now weighs…

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Why Debit Card Fees are Higher Than Ever

In 2010, franchisees won a long, hard-fought battle against the finance industry, as Congress passed a bill which would regulate the exorbitant debit card fees that were being set by credit card companies and banks.Today, it appears that the battle has just begun. Some unintended consequences began to take shape in late June 2011, when…

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7-Eleven Franchisees Descend On Hill To Battle Credit Card Swipe Fees

Ryan Grim writes at the Huffington Post that Navdeep Bassi is tired of sending money to Wall Street for nothing. Over the past year, the owner of four 7-Elevens in Orange County, California, has been haranguing his customers about the swipe fees he is forced to pay big banks and major credit card companies, asking them to sign a petition in opposition to the fees.

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Tell Congress to Preserve the Durbin “Swipe Fees” Fix

In a major victory for retailers, last month the U.S. Senate took action that will greatly reduce the excessive “swipe fees” you pay on debit card transactions. This critical amendment to the Financial Regulatory Reform package was not included in the legislation passed earlier by the U.S. House of Representatives. It is critically important that you contact your member of Congress and ask that they support fixing “swipe fees” in the U.S. House of Representatives!

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Retailers Poised for Victory in Debit Card Fee Fight

CNN Money reports that retailers are poised for a major victory in the Wall Street reform bill currently pending in Congress. The Senate adopted an amendment late Thursday that will slap sharp restrictions on the fees issuers levy every time a buyer pays with a debit card. Take Action and tell your congressman and Senator to put a stop to high credit card interchange fees.

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Congress Mulls Fee Cut on Credit Card Transactions

Mark Calvey reports in the San Francisco Business Times that Visa Inc. and its banking clients who rely on the San Francisco company’s payment network to handle card transactions are fighting lawmakers on yet another front: the fees merchants pay to process a card transaction. Three bills in Congress would limit so-called interchange fees when banking issues are the hot topic.

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