In This Issue:
- New Suits Filed as Credit Card Swipe Fee Settlement Deadline Looms
- Sec. Lew Tells Senate Committee of Plans to Accelerate Dodd-Frank
- New Mortgage Rule to Block Access to Credit, Witnesses Warn House
- Lack of Reforms for Installment Loans Could Bring Risks
- Banks Question Proposed Loan Loss Accounting Change
- Banks Say Growing Credit Unions Should be Subject to Same Rules
- CFPB Proposes Flexible Student Loan Repayment Plans
- Private Market Eyeing Federal Student Loan Programs
- Companies Warned Online Background Checks May Violate FCRA
- Excerpt from New Suits Filed as Credit Card Swipe Fee Settlement Deadline Looms:
Target, Macy's and 15 other retailers filed suit in U.S. District Court in Manhattan overcredit card swipe fees in advance of a deadline to either accept or reject the proposed $7.25 billion settlement. The settlement is designed to resolve multiple federal lawsuits,some dating to 2005, filed by merchants and trade groups against Visa, MasterCardand several large banks that issue cards, which accused the defendants of conspiringfor years to fix interchange fees that merchants pay each time a customer pays with a card.
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