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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 ...
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 rule would bring the average credit card late fee down from $32. ... Congress in 2010 passed the CARD Act, which banned credit card companies from charging excessive penalty fees and ...
Opponents of credit card swipe fee legislation claim it will benefit big box retailers, cause harm to consumers and small businesses. ... The average six-year student completion rate at U.S ...
A bipartisan bill aimed at promoting transparency and competition in the credit card market is gaining both support and opposition as it sits in deliberation with the Committee on Banking, Housing,...
The Criminal, Cyber, Response, and Services Branch ( CCRSB) is a service within the Federal Bureau of Investigation (FBI). The CCRSB is responsible for investigating financial crime, white-collar crime, violent crime, organized crime, public corruption, violations of individual civil rights, and drug-related crime.
The Fair Credit Billing Act, the federal law that dictates how credit card fraud and billing disputes are handled, defines a number of situations as billing errors, including "goods or services ...