RILA urges court to reject Visa Mastercard swipe fee settlement
RILA states the proposed Visa and Mastercard settlement minimally reduces retailers’ card acceptance costs and limits future legal challenges.
Swipe Fees
Merchants encourage NCUA to withdraw flawed rule blocking Illinois swipe fee law
The rule “rests on an inaccurate understanding of the modern credit and debit card payments ecosystem and, as a result, does not provide a sound legal basis” for preempting the Illinois Interchange Fee Prohibition Act, MPC said.
RILA vows continued fight over swipe fees
The Retail Industry Leaders Association argues that the agreement fails to curb rising interchange costs or increase competition in the payments market.
NRF criticizes Visa and Mastercard settlement
NRF stated the proposed agreement doesn't address retailer concerns about limited competition in payments and doesn't sufficiently curb rising transaction costs.
Preliminary court ruling on Visa/Mastercard swipe fees is bad deal for retailers and consumers
U.S. District Judge Brian Cogan on Tuesday gave preliminary approval to the proposal.