Copyright © 2014 Association for Financial Professionals, Inc.
All rights reserved.
- Retailers Appeal $5.7 Billion Interchange SettlementThe National Retail Federation is appealing the $5.7 billion settlement with Visa and MasterCard over interchange, which District Judge John Gleeson approved in December. The retail trade group is concerned that the ruling will do nothing to prevent hikes on interchange fees in the future.
- December 2013 Payments NewsletterThis month, we received the ruling on Visa’s and MasterCard’s multibillion dollar settlement over interchange. While the settlement was approved, many retailers are still opposed to it and plan to appeal. Also this month, we review a recent Senate hearing on bitcoin and virtual currencies, which Payments attended.
- Judge Approves Record $5.7 Billion Interchange SettlementA U.S. District Court Judge approved a landmark $5.7 billion
settlement in the interchange legal case. Many retailers oppose the settlement
and say they will appeal.
- Fed Appeals Debit Interchange RulingThe U.S. Federal Reserve is appealing Federal Judge Richard Leon’s ruling that struck down its 21-cent cap on debit interchange fees. Scott Avarez, general counsel for the Fed, asked Leon to keep the current rule in place as the appeal is pending.
- Judge Urges Fed to Move Swiftly on Debit InterchangeFederal Judge Richard Leon, who recently struck down the 21-cent cap on debit interchange fees, is putting pressure on the Federal Reserve to decide its next move. The Fed has until August 21 to state its position and indicate how soon an interim rule could be put in place.