Bipartisan legislation being filed in the United States Senate would lower the fees that restaurants and other retailers pay to process credit card transactions. The legislation, S.4674, sponsored by Senators Roger Marshall (R-KS) and Senate Majority Whip Dick Durbin (D-IL), would require that the largest bank credit cards (over $100 billion in assets) provide at…
Read More »Last week, we advised that the U.S. District Court gave final approval to a $5.54 billion settlement in the class action lawsuit against VISA, MasterCard and the largest card-issuing banks over card swipe fees and overcharges to businesses since 2004. We also reported that DDIFO is in discussions with Class Action Refunds to possibly provide…
Read More »In mid-December, the U.S. District Court for the Eastern District of New York granted final approval of a $5.54 billion settlement in the lawsuit brought by merchants against VISA, MasterCard and the largest card-issuing banks. The class action lawsuit was initiated on behalf of merchants that accepted VISA or MasterCard since January 1, 2004 and…
Read More »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…
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We again remind our members and other Dunkin’ franchisees 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 merchants regarding non-negotiable credit…
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