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7 Jun 2024, 6:00 am by Michelle
Part of the deal with the Illinois Retail Merchants Association in exchange for a cap on the credit retailers get for collecting and remitting sales taxes is a change to the so-called interchange fee, limiting the fees financial institutions can charge on the sales tax of transactions. [read post]
31 May 2024, 6:00 am by Michelle
Legal and Regulatory Developments SPOTLIGHT: The MPC Fires Back at Claims Merchants Won’t Pass Along CCCA Savings to ConsumersDigital Transactions News – May 24, 2024 Claims by banks that merchants won’t pass along savings from the Credit Card Competition Act to consumers are grossly misleading and do not reflect the economic realities merchants face, argues the Merchants Payments Coalition, a lobbying group representing sellers on… [read post]
23 May 2024, 11:26 am by Yosi Yahoudai
Instead, you’ll likely save the most with general rewards credit cards or cards associated with warehouse clubs and credit unions. [read post]
17 May 2024, 2:02 pm by Ellen T. Berge and Christopher L. Boone
Becerra, 878 F.3d 1165 (9th Cir. 2018), the Ninth Circuit held that California’s surcharge law violated the merchant plaintiffs’ First Amendment rights by prohibiting single-sticker pricing, which is the practice of listing the price of a good or service and an additional charge for using a credit card (as either an amount or percentage), for example, listing a price as $10, with a three percent credit card surcharge or $10 plus $0.30 for credit. [read post]
17 May 2024, 6:00 am by Michelle
In response to the Fed’s proposal, the American Bankers Association and eight other bank and credit union associations sent a letter to the Fed urging it to withdraw its proposed interchange-rate adjustments. . . . [read post]
10 May 2024, 6:00 am by Michelle
Those swipe fees are what a merchant pays to accept credit card or debit card payments. [read post]
9 May 2024, 9:01 pm by renholding
”[5] The DFAL provides typical exemptions to banks, trust companies, and credit unions from the application of the law. [read post]
29 Apr 2024, 9:01 pm by renholding
Owns or Operates Financial Services Sector Infrastructure The entity owns or operates any legal entity that qualifies as one or more of the financial services entities specified in the Proposed Regulation, including (i) A banking or other organization regulated by the OCC, the Federal Reserve Board, or the FDIC under certain regulations; (ii) A federally insured credit union regulated by the NCUA under a specific regulation; (iii) A designated contract market, swap execution facility,… [read post]
25 Mar 2024, 2:07 pm by Julian Morris
These data suggest that, for all the critics’ bluster, the value of rewards per dollar spent varies relatively little from card to card; what differs is the types of rewards and other associated benefits. [read post]
28 Feb 2024, 5:00 am by Bob Ambrogi
If that is toggled on, the employee then gets the option to associate the expense with a specific client and matter. [read post]
16 Feb 2024, 5:44 pm
It is in this context that a recent essay by friend and Association for the Study of the Cuban Economy colleague Domingo Amuchastegui, "Nuestra Derrota"  is worth considerable contemplation. [read post]
9 Feb 2024, 6:00 am by Michelle
A BIN is an 8-digit number used to uniquely identify card-issuing institutions, such as credit, debit and points/rewards card issuers. . . . [read post]
3 Feb 2024, 2:59 pm by Rebecca Tushnet
Challenges: interest divergence: ecommerce platforms may not want to alienate merchants; institutional costs. [read post]
19 Jan 2024, 6:00 am by Michelle
The latest move follows a similar letter sent to Congress Wednesday from 291 merchant trade associations from every state and Puerto Rico. [read post]
12 Jan 2024, 6:00 am by Michelle
 While retailers, merchants and consumer advocates seek to rein them in, bank card issuers and partner networks are poised to push back, promising an escalation of tension over credit and debit fees. . . . [read post]
8 Dec 2023, 6:00 am by Michelle
 The two sectors are at loggerheads over the Credit Card Competition Act, a package backed by the merchant and retail lobby that takes aim at credit card fees. [read post]
4 Dec 2023, 9:00 am by Ortiz Law Firm
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