Interchange Fees

News & Analysis as of

Federal Reserve Board Reports On Prepaid Cards, Domestic Payments

Recently, the Federal Reserve Board released two payments-related reports: (i) a report to Congress on government-administered general use prepaid cards; and (ii) a detailed report on the Federal Reserve’s 2013 payments...more

D.C. Circuit Appellate Court Overturns Lower Court Decision on FRB’s Interchange Fee Rule

On March 21, 2014, a panel of the United States Court of Appeals for the District of Columbia Circuit issued its decision in the highly anticipated case relating to debit card interchange and exclusivity, NACS v. Board of...more

Bankers Win Latest Interchange Battle

The U.S. Court of Appeals for the District of Columbia Circuit recently reversed a lower court decision and upheld the interchange rules adopted by the Federal Reserve Board (FRB) under the so-called Durbin Amendment to the...more

Court Approves $7.25 Billion Settlement of Antitrust Class Action Relating to Visa and MasterCard Interchange Fees

In the face of objections from some of the nation’s largest retailers, a New York federal judge has approved a massive settlement between a putative class of approximately 12 million merchants and Visa, MasterCard, and...more

Federal District Court Gives Federal Reserve Deadline To Decide Interchange Fee Rule

On August 14, the U.S. District Court for the District of Columbia reportedly gave the Federal Reserve Board (FRB) one week to determine whether it will write an interim final rule to replace the interchange fee rule recently...more

D.C. Federal District Court Vacates Federal Reserve Board’s Interchange Fee Rule

On July 31, the U.S. District Court for the District of Columbia held that the Federal Reserve Board’s 2011 final rule implementing the so-called Durbin Amendment is invalid under the Administrative Procedures Act (APA). NACS...more

D.C. District Court Finds Fed Interchange Rules Are Invalid

On July 31, 2013, the U.S. District Court for the District of Columbia (“District Court”) issued a sharply worded Memorandum Opinion in the merchant litigation with the Federal Reserve Board (“Board”) regarding the Board’s...more

Federal Court Declares Debit Card Interchange Fee Rule Provisions Invalid

A Washington, D.C., federal district court has declared that the interchange fee and network non-exclusivity provisions of the Federal Reserve Board’s final debit card interchange fee rule are invalid....more

Court Invalidates Interchange Fee Rules Because Fed Completely Misunderstood Durbin Amendment

The United States District Court has invalidated the Fed’s Interchange Rules in NACS et al v Board of Governors of the Federal Reserve Board. ...more

Payments Industry Update: European Commission announces regulation of Interchange Fees and a ban on Surcharges

On July 24, the European Commission unveiled its legislative package to adapt the EU payments market to the opportunities of the single market and to support EU economic growth....more

Fed Issues Study On Interchange Fees For Smaller Debit Card Issuers

The Dodd-Frank Act exempted small debit card issuers from the interchange fee standard set forth in the regulations which were adopted, but not from the statute’s prohibition on network exclusivity....more

Previously Banned Fees Charged to Consumers Now Permissible for Visa and MasterCard Transactions

In November 2012, the U.S. District Court for the Eastern District of New York preliminarily approved a settlement agreement in the In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation. As a result,...more

Visa/MasterCard Interchange Fee Litigation – May 28, 2013 Deadline to Respond to Class Action Settlement Agreement

All entities that accept Visa- or MasterCard-branded credit and/or debit cards must decide, on or before May 28, 2013, how to respond to the settlement agreement with Visa and MasterCard on behalf of a class covering...more

2012 Payments Systems Year-in-Review

The interchange fee and the potential of mobile payments were the dominant payment system issues in 2012. From a landmark antitrust settlement to seemingly daily announcements of a new prepaid or mobile payment product, there...more

14 Results
|
View per page
Page: of 1