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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 ...
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 ...
Chargeback. A chargeback is a return of money to a payer of a transaction, especially a credit card transaction. Most commonly the payer is a consumer. The chargeback reverses a money transfer from the consumer's bank account, line of credit, or credit card. The chargeback is ordered by the bank that issued the consumer's payment card.
When a business charges a fee for a form of payment, whether in person, online or by phone, it’s called a surcharge. Credit card surcharges are applied when you use your credit card to make a ...
The U.S. Bank Visa® Platinum Card is a no-annual-fee card offering a 0% intro APR period on purchases and balance transfers for 21 billing cycles. After that, 18.74%–29.74% variable APR.
Chase's proposed fee comes at a time when the average monthly fee for a non-interest checking account is $5.31, and $15.33 for an interest-bearing account, according to Bankrate. Lake spoke to ...
Mastercard Inc. (stylized as MasterCard from 1979 to 2016, mastercard from 2016 to 2019) is an American multinational payment card services corporation headquartered in Purchase, New York. [ 3] It offers a range of payment transaction processing and other related-payment services (such as travel-related payments and bookings).
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