Retailers to Appeal $7.25 Billion Swipe Fee Settlement
Retailers continue to fight hard against the $7.25 billion interchange fee settlement between merchants and Visa, MasterCard and several banks. On Tuesday, ten merchants and trade groups filed notice...
View ArticleExpedited Appeal of Swipe Fee Settlement Denied
The Second Circuit Court of Appeals denied a request by Home Depot and other merchants to speed up the appeals process in a class action settlement over swipe fees. The U.S. appeals court is postponing...
View ArticleTop Credit Card Stories of the Year
2012 was a relatively quiet year for the credit card industry. However, there were a number of developments that may have a far-reaching impact in the years to come. Here are the top ten credit card...
View ArticleNine States Considering Ban on Credit Card Surcharges
A number of states are considering banning the surcharges that merchants can now put on credit card transactions. Regulations went into effect on January 27 that allow merchants to impose a surcharge...
View ArticleDebit Card Swipe Fees Have Dropped Dramatically
The Federal Reserve has issued a report on the effect on the Durbin Amendment which shows a drastic reduction has taken place in debit card interchange fees. As a result, the Federal Reserve does not...
View ArticleLowCards.com Weekly Credit Card Update–March 8, 2013
Young Adults Retreat From Piling Up Debt Total debt among young adults dropped in the last decade to the lowest level in 15 years. A typical young U.S. household, defined as one led by someone under...
View ArticleLowCards.com Weekly Credit Card Update–April 12, 2013
Analysts See Steady Credit Card Use, Despite Fears of Consumer Cutbacks Analysts expect upcoming earnings from American Express, Visa and other large credit card companies to show that shoppers...
View ArticleRILA Opts Out of Interchange Fee Settlement
The Retail Industry Leaders Association (RILA) has backed out of a pact with Visa, MasterCard and other major credit card providers. The class-action settlement for $7.25 billion was designed to make...
View ArticleMajor Retailers Formally Oppose Swipe Fee Settlement
The National Retail Federation and 19 large retailers, including WalMart, Costco, Gap, Lowe's, Nike and Starbucks are choosing not to participate in the pending $7.2 billion class-action settlement...
View ArticleLowCards.com Weekly Credit Card Update–May 31, 2013
Why Business Credit Card Holders Should Be Wary A majority of small business owners know their personal and business finances are connected. If they apply for a small business loan, the bank will...
View ArticleEU Puts Limit on Interchange Fees
Retailers doing business within the European Union may not have to worry about high interchange fees any longer. Yesterday, the European Commission recommended that these fees be capped at 0.2% for...
View ArticleLowCards.com Weekly Credit Card Update–July 26, 2013
New Ruling on Credit Card Regulations Could Mean Big Changes at the Cash Register in Canada A ruling expected this week on a complaint against Visa and MasterCard could significantly change how...
View ArticleCanadians Will Not Pay More for Using Credit Cards
Canadian merchants will not be allowed to assess additional charges to consumers who use certain credit cards, according to a recent decision by the country's Competition Tribunal. Merchants had hoped...
View ArticleLowCards.com Weekly Credit Card Update–August 16, 2013
Judge is Open to Repayment of Swipe Fees A federal judge threatened to further crimp a once-lucrative profit center for banks and credit card companies, saying they may need to reimburse retailers...
View ArticleInterchange Fees Cut in France
The battle surrounding the interchange fee continues throughout the world, not just in the United States. In France, the French Competition Authority has reached an agreement with Visa and MasterCard...
View ArticleNew York Judge Rules Against Credit Card Surcharge Law
U.S. District Judge Jed Rakoff ruled in favor of a group of retailers last week who challenged New York's surcharge law. The law subjects retailers to criminal penalties if they assess surcharges to...
View ArticleDwolla Drastically Reduces Credit Card Processing Fees
Most consumers swipe their credit cards without a second thought, not realizing they're costing a business money in doing so. Business owners have to pay processing fees for every credit card...
View ArticleCloudPay Gives Credit Card Processing Fees to Charity
CloudPay is a payment processing program in northern California that acts much like any other mobile payment system on the market. When a customer makes a credit card purchase, the retailer has to pay...
View ArticleGroup Attacks American Express Over Small Business Saturday
American Express is receiving some heat from a group called Main Street Alliance that says the card company's "Small Business Saturday" is hypocritical in its values. Small Business Saturday is the...
View ArticleLowCards.com Weekly Credit Card Update–December 27, 2013
American Express To Pay $75 Million Over Credit Card Practices The Consumer Financial Protection Bureau has ordered American Express to pay more than $75 million to settle claims that it charged...
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