It has been bouncing around for a good number of years now and was thought to be settled a few years ago before that settlement was ultimately rejected. Now, it would appear that a settlement has again been reached in the class action suit over VISA and MasterCard Interchange Fees. The lawsuit stems from claims…
Read More »With Congress in an “undo Obama policy” mode, timing is perfect for business owners (franchised or not) to contact Representatives in Congress and urge them to support the Financial Choice Act of 2017 – but ONLY if the Durbin Amendment is left intact. This issue involves the debit swipe fee reform that was secured back…
Read More »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.
Read More »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!
Read More »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.
Read More »Action Alert: Tell Your Elected Representatives To Act On Hidden Credit and Debit Card Interchange Fees
Read More »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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