The European Commission has reportedly launched a probe into whether Mastercard and Visa’s fees are hurting merchants. The commission sent out questionnaires to retailers and payment service providers about both Visa and Mastercard in September, giving them until October to respond, Reuters reported Wednesday (Nov. 6),...
Congresswoman Maxine Waters (D-Calif.) reiterated her opposition to the proposed Capital One–Discover merger. Waters, the top Democrat on the House Financial Services Committee (HFSC), testified against the proposed merger Friday (July 19) during a virtual meeting convened by the Federal Reserve and the Office of...
A federal magistrate judge ruled Saturday (July 13) that plaintiffs law firm Milberg Coleman Bryson Phillips Grossman would not be sanctioned at this time for submitting fake claims in an antitrust settlement with Visa and Mastercard. In his ruling, U.S. Magistrate Judge Joseph Marutollo said...
Visa and Mastercard have reportedly agreed to extend caps on tourist card fees in Europe. As Reuters reported Friday (July 5), the card companies and European Union regulators had originally agreed to the caps five years ago, and will now extend them to 2029. The report notes that...
June 24, 2024
The Consumer Financial Protection Bureau’s (CFPB) rules that seek to remove medical debt from credit reports and cap card late fees are proving wildly popular with the general public. But there may be unintended consequences — upending the ways in which providers and patients interact and upending credit access in general. The rules have yet […]
May 21, 2024
Higher fees from the payments networks across the pond have not translated into better service, according to a new report. The U.K.’s Payment Systems Regulator (PSR) issued a 158-page report...
February 24, 2023
There’s a not-far-off future where plastic credit and debit cards will be less popular with rising consumer groups drawn to instant payments, and that’s OK with merchants, who will save...
May 12, 2022
Legal obstacles to surcharges on credit card transactions have been dropping for much of the past decade as courts continue to rule that the surcharges are permissible. This is good...
November 06, 2024
The European Commission has reportedly launched a probe into whether Mastercard and Visa’s fees are hurting merchants. The commission sent out questionnaires to retailers and payment service providers about both Visa and Mastercard in September, giving them until October to respond, Reuters reported Wednesday (Nov. 6), citing an EU document it had seen. Retailers have complained […]
July 19, 2024
Congresswoman Maxine Waters (D-Calif.) reiterated her opposition to the proposed Capital One–Discover merger. Waters, the top Democrat on the House Financial Services Committee (HFSC), testified against the proposed merger Friday...
July 15, 2024
A federal magistrate judge ruled Saturday (July 13) that plaintiffs law firm Milberg Coleman Bryson Phillips Grossman would not be sanctioned at this time for submitting fake claims in an...
July 05, 2024
Visa and Mastercard have reportedly agreed to extend caps on tourist card fees in Europe. As Reuters reported Friday (July 5), the card companies and European Union regulators had originally agreed to the...
