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  2. Judge rejects $30B Visa, Mastercard ‘swipe fee’ settlement

    www.aol.com/judge-rejects-30b-visa-mastercard...

    Retailers pay an average 2.24 percent fee each time they swipe a credit card, although those fees can be as high as 4 percent, according to the National Retail Federation, an MPC member that says ...

  3. Supreme Court 'swipe fees' ruling may open US regulations to ...

    www.aol.com/news/supreme-court-swipe-fees-ruling...

    Swipe fees, also called interchange fees, reimburse banks for costs involved in offering debit cards. The fees are determined by Visa, MasterCard and other card networks, with a cap of 21 cents ...

  4. A U.S. judge on Tuesday rejected a $30 billion antitrust settlement in which Visa and Mastercard agreed to limit fees they charge merchants who accept their credit and debit cards. U.S. District ...

  5. Payment card interchange fee and merchant discount antitrust ...

    en.wikipedia.org/wiki/Payment_Card_Interchange...

    The payment card interchange fee and merchant discount antitrust litigation is a United States class-action lawsuit filed in 2005 by merchants and trade associations against Visa, Mastercard, and numerous financial institutions that issue payment cards. The suit was filed because of price fixing and other allegedly anti-competitive trade ...

  6. Durbin amendment - Wikipedia

    en.wikipedia.org/wiki/Durbin_amendment

    The Durbin amendment, implemented by Regulation II, [ 1] is a provision of United States federal law, 15 U.S.C. § 1693o-2, that requires the Federal Reserve to limit fees charged to retailers for debit card processing. It was passed as part of the Dodd–Frank financial reform legislation in 2010, as a last-minute addition by Dick Durbin, a ...

  7. Interchange fee - Wikipedia

    en.wikipedia.org/wiki/Interchange_fee

    Interchange fee is a term used in the payment card industry to describe a fee paid between banks for the acceptance of card-based transactions. Usually for sales/services transactions it is a fee that a merchant's bank (the "acquiring bank") pays a customer's bank (the "issuing bank"). In a credit card or debit card transaction, the card ...

  8. Federal judge rejects $30 billion settlement between Visa ...

    www.aol.com/federal-judge-rejects-30-billion...

    A federal judge overseeing a $30 billion preliminary swipe-fees settlement between Mastercard, Visa and retailers formally rejected the deal Tuesday. The ruling likely means the credit card ...

  9. Lower Mastercard and Visa Swipe Fees Are Coming - AOL

    www.aol.com/finance/lower-mastercard-visa-swipe...

    Currently, swipe fees average about 2% per transaction and are only lowered by “at least 0.04 percentage points.”. This means on a $100 sale, the $2 fee will be reduced to a maximum of $1.96 ...