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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 ...
The Act contains a provision that limits the first year annual fee for a credit card to 25% of the credit limit. Credit card issuers are still able to charge certain additional fees, such as "setup fees" or "program fees." The Act also restricts the fees that can be charged for gift cards and other prepaid cards.
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 ...
June 26, 2024 at 11:14 AM. NEW YORK (AP) — A federal judge said she's not likely to approve the $30 billion settlement between the payment processing giants Visa and Mastercard and the merchants ...
As Chicago gears up for next year’s citywide election, it’s already apparent that the future makeup of City Council could seismically shift this February. Though less high profile than the ...
The Council Wars were a racially polarized political conflict in the city of Chicago from 1983 to 1986, centered on the Chicago City Council. The term came from a satirical comedy sketch of the same name written and performed by comedian and journalist Aaron Freeman in 1983, using the good vs. evil plot line of the film Star Wars as a device.
The City of Chicago has held elections to its City Council since its incorporation in 1837. Elections were held annually from 1837 through 1921, biennially from 1923 through 1933, and quadrennially starting in 1935. From 1851 through 1922 the Council was staggered and half of it was chosen at each election, but before 1851 and since 1923 the ...