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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 ...
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 ...
You should send this so that it reaches your issuer within 60 days of when the first statement with the fraudulent charge was mailed to you. As a precaution, send it by certified mail and ask for ...
Overpayment scam. An overpayment scam, also known as a refund scam, is a type of confidence trick designed to prey upon victims' good faith. In the most basic form, an overpayment scam consists of a scammer claiming, falsely, to have sent a victim an excess amount of money. The scammer then attempts to convince the victim to return the ...
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By Matt Brownell Credit cards provide great protection against fraudulent charges, and some can even bag you great cash-back rewards. But perhaps the best thing about paying for your purchases ...
Refund anticipation loan ( RAL) is a short-term consumer loan in the United States provided by a third party against an expected tax refund for the duration it takes the tax authority to pay the refund. The loan term was usually about two to three weeks, related to the time it took the U.S. Internal Revenue Service to deposit refunds in ...
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 ...