Consumer Finance Monitor Podcast Episode: Understanding the Federal Reserve Board Proposal to Lower Interchange Fee Cap for Debit Card Transactions
Illinois enacted a law that prohibits a credit card holder’s bank from charging or receiving interchange fees on the portions of transactions that include Illinois state or local taxes and gratuities, in effect starting July...more
On April 8, 2022, the Japan Fair Trade Commission ("JFTC") published the Market Survey Report on Credit Card Transactions ("Report"). The JFTC conducted a survey on credit card transactions in order to ascertain disclosure of...more
Key Takeaways - The United Kingdom’s Competition Appeal Tribunal (CAT) recently granted the U.K.’s first ever Collective Proceeding Order (CPO), on an “opt-out” basis, in Walter Hugh Merricks CBE v Mastercard Incorporated &...more
In a landmark judgment (and in unusual circumstances), the UK Supreme Court has held that the ongoing Merricks v Mastercard case should be referred back to the Competition Appeal Tribunal (CAT). Not only is this a step...more
On June 17, 2020, the UK Supreme Court handed down its judgment in the appeals on the lawfulness of multilateral interchange fees, or swipe fees, (MIFs) in Sainsbury’s Supermarkets Ltd (Respondent) v. Visa Europe Services LLC...more
The PSR is to consider whether there is effective competition in the market and makes clear that further reviews of the payments ecosystem could be triggered by its findings - The Payment Systems Regulator (PSR) has...more
In recent years, federal antitrust enforcers and businesses that accept payment cards have been waging a slow war against payment card fees and the card network rules that protect them. The payment card industry’s antitrust...more