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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 ...
Visa is in the antitrust crosshairs. The US Department of Justice filed a lawsuit on Tuesday arguing that the payment processing giant illegally maintained a monopoly with anti-competitive ...
Surcharge (payment systems) A surcharge, also known as checkout fee, is an extra fee charged by a merchant when receiving a payment by cheque, credit card, charge card or debit card (but not cash) which at least covers the cost to the merchant of accepting that means of payment, such as the merchant service fee imposed by a credit card company. [1]
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The U.S. Justice Department has filed an antitrust lawsuit against Visa, alleging that the financial services behemoth uses its size and dominance to stifle competition in the debit card market ...
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 ...
May 29, 2024 at 1:21 PM. By Nate Raymond. (Reuters) -The U.S. Consumer Financial Protection Bureau (CFPB) on Tuesday scored a jurisdictional victory when a federal judge in Texas transferred to ...
Varney (left) with Attorney General Eric Holder (right) speaks on credit card surcharge, in 2010, as Assistant Attorney General for the Antitrust Division. As a Commissioner at the FTC, Varney was outspoken about monopolies in innovation markets and about the possibility that vertical mergers create unfair barriers to entry in networked ...