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24 Nov 2009, 5:42 pm by Adam Levitin
  The Reserve Bank of Australia in fact acted to bust up anticompetitive private regulation of interchange. [read post]
8 Feb 2011, 2:40 pm by James Hamilton
The American Bankers Association and the state bankers associations sent a joint letter to the Senate and House urging Congress to stop the implementation of the Fed’s interchange proposal implementing the Durbin interchange amendment in the Dodd-Frank Act. [read post]
24 Jul 2013, 1:50 pm
With Visa and MasterCard's market share estimated at 96.8% in value, and with interchange fees already banned in countries such as Denmark and the United States, the Commission believes that regulation is required. [read post]
21 Aug 2012, 12:33 pm by Adam Levitin
  Zywicki also makes some rather bold claims that the Durbin Amendment has merely resulted in banks recouping their lost interchange revenue in deposit account fees. [read post]
21 Aug 2012, 10:52 am by Adam Levitin
Perhaps the most troubling aspect of the settlement is that the centerpiece of injunctive relief—removing the no-surcharge rule—is of no value to most US merchants—both the 40% based in the 10 populous states with state no-surcharge laws and those merchants who accept Amex as well as MasterCard and Visa (somewhere upwards of 60%, but near 100% for larger merchants). [read post]
31 May 2011, 6:57 am by jbcporter
Interchange Cost Chart Senator Richard Durbin continues to defend his amendment, despite unprecedented opposition from financial institutions from multi-billion dollar banks down to the smallest credit unions, and penned an open letter to JPMorgan Chase CEO Jamie Dimon in which he wrote:  “[T]here is no need for you to threaten your customers with higher fees when you and your bank are already making money hand-over-fist. [read post]
2 Mar 2011, 9:43 am by Nicole Kellner-Swick
  For those who don’t know, interchange fees are fees that an issuing bank deducts from the amount it pays the acquiring bank that handles a credit or debit card transaction for a merchant.[17]  Typically, these fees are set by the credit card networks such as Visa and MasterCard and represent about 2% of the total sale.[18] Unlike credit cards, where the user borrows money from a creditor and pays it back at the end of the month, debit cards are directly… [read post]
10 Jan 2008, 12:54 pm
    Interchange is the fee charged on every credit card transaction by the bank that issues the credit card to the merchant's bank. [read post]
29 Jun 2011, 5:38 pm by Adam Levitin
What a sorry state of the world we live in where the bank regulators are the last people we can trust to actually regulate the banks. [read post]
2 Jan 2011, 5:57 pm by James Hamilton
According to the senator, these small banks can continue to receive the same high interchange fees that they do today and they will actually receive higher fee rates than their larger competitors. [read post]
6 Dec 2009, 11:45 pm
The Law and Economics of Interchange Fees and Credit Card Markets For the uninitiated, the interchange fee is the fee charged (usually) by the credit card issuing bank (the cardholder's bank) to the credit card acquiring bank (the merchant's bank) to settle a credit card transaction between the cardholder and the merchant. [read post]
12 May 2021, 10:59 am by Jeremy T. Rosenblum
The proposal quickly met with criticism from leading banking trade groups, including the American Bankers Association, Consumer Bankers Association, and Bank Policy Institute. [read post]
25 Feb 2011, 12:10 pm by jbcporter
  If the rule isn’t changed, the result will be increased fees for bank customers to make up for lost interchange fees charged to retailers. [read post]
8 Dec 2009, 1:01 pm
  Given the tenuous state of the economic recovery, legislation that reduces consumer spending has obvious costs. [read post]
21 Jun 2010, 8:37 am by Todd Zywicki
Adam does not state exactly where he is drawing his support from, but I assume it is this report of the Reserve Bank of Australia on the effects of interchange price controls in Australia. [read post]
15 May 2012, 1:46 pm by Karen K. Harris
  Interchange fees from debit card purchases totaled over $16.2 billion. [read post]
  And its reach may have an effect on pending litigation against Visa, MasterCard and certain of their member banks in other countries, such as the In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation in the United States. [read post]
3 Feb 2015, 11:01 am by David Griffiths
On January 27, the Economic and Monetary Affairs Committee (“ECON”) released a press release stating that it had voted in favour of the proposed Regulation on multilateral interchange fees (“MIF Regulation”). [read post]
27 Feb 2014, 9:59 am
The Mercatus Center has just released the results of a survey of 200 small banks (less than $10 billion in assets) that serve rural and small metropolitan markets in 41 states. [read post]