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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 ...
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 ...
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 Personal Information Protection and Electronic Documents Act ( PIPEDA; French: Loi sur la protection des renseignements personnels et les documents électroniques) is a Canadian law relating to data privacy. [ 2] It governs how private sector organizations collect, use and disclose personal information in the course of commercial business.
Opponents of credit card swipe fee legislation claim it will benefit big box retailers, cause harm to consumers and small businesses. From our readers:
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 ...
Under this system, customers prove their purchase by showing a credit card and ID. [2] The measure was taken in response to ticket scalping and resale markup of tickets on secondary markets and adopted during Miley Cyrus (2009) World Wonder Tour , although Ticketmaster first experimented it with AC/DC 's Black Ice World Tour (2008–10).
The first jurisdiction in Canada to legislatively provide for credit freezes was Quebec, with the passage of Bill 53 (the Credit Assessment Agents Act). Starting in February 2023, Quebec residents can place a freeze. [11] As of February 2021, Ontario was considering changes to its Consumer Reporting Act that would provide for credit freezes. [12]