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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 ...
August 1, 2024 at 1:14 PM. The Real Estate Consumer Protection Enhancement Act, which is meant to create a more transparent and buyer-friendly housing market, officially went into effect in New ...
On Saturday, industry rules governing real estate agent commissions will change — a shift some experts say could ultimately lower costs for consumers buying and selling a home. However, the ...
Businesses in New York will have to clearly state the total price of an item or service and limit their surcharge amounts starting Sunday, Feb. 11. NY ditches hidden credit card surcharges with ...
Surcharge (payment systems) A surcharge, also known as checkout fee, is an extra fee charged by a merchant when receiving a payment by cheque, credit card, charge card or debit card (but not cash) which at least covers the cost to the merchant of accepting that means of payment, such as the merchant service fee imposed by a credit card company. [1]
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 ...
When a business chooses to impose a credit card surcharge, there are protocols that have to be followed. For one, the business has to notify the appropriate credit card associations and clearly ...
Durbin amendment. 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 ...