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The Durbin amendment, implemented by Regulation II, [ 1] is a provision of United States federal law, 15 U.S.C. § 1693o-2, that requires the Federal Reserve to limit fees charged to retailers for debit card processing. It was passed as part of the Dodd–Frank financial reform legislation in 2010, as a last-minute addition by Dick Durbin, a ...
Interchange fee is a term used in the payment card industry to describe a fee paid between banks for the acceptance of card-based transactions. Usually for sales/services transactions it is a fee that a merchant's bank (the "acquiring bank") pays a customer's bank (the "issuing bank"). In a credit card or debit card transaction, the card ...
The Financial Services Regulatory Authority of Ontario ( FSRA; French: Autorité ontarienne de réglementation des services financiers) is a self-funding Crown agency which acts as the financial regulator for the Canadian province of Ontario. Established in 2016, FSRA officially succeeded its predecessor agencies – the Financial Services ...
Introduced in the Senate at the end of July by Senators Dick Durbin (D-IL) and Roger Marshall, M.D. (R-KS), the Credit Card Competition Act of 2022 calls on the Federal Reserve System to prohibit ...
Opponents of credit card swipe fee legislation claim it will benefit big box retailers, cause harm to consumers and small businesses. From our readers:
Debt collection or cash collection is the process of pursuing payments of money or other agreed-upon value owed to a creditor. The debtors may be individuals or businesses. An organization that specializes in debt collection is known as a collection agency or debt collector. [ 1] Most collection agencies operate as agents of creditors and ...
The Ministry of Public and Business Service Delivery and Procurement ( MPBSDP; formerly the Ministry of Government and Consumer Services) is a ministry of the Government of Ontario. It is responsible for ServiceOntario, which, among other responsibilities, issues driver's licenses, health cards, birth certificates and other provincial documents ...
The payment card interchange fee and merchant discount antitrust litigation is a United States class-action lawsuit filed in 2005 by merchants and trade associations against Visa, Mastercard, and numerous financial institutions that issue payment cards. The suit was filed because of price fixing and other allegedly anti-competitive trade ...