Swipe Fee Settlement Finalized

Speaking of the CFA, we received a notice from them this week advising that the $5.7 Billion settlement between VISA and MasterCard and a number of merchant and trade organizations has been finalized by the US District Court.  The settlement stems from a 2005 class action lawsuit against the credit card giants on behalf of…

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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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