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Each time a customer pays for a purchase with a credit or debit card, the seller must pay a credit card processing fee. Credit card processors, also known as merchant account providers, help ...
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 ...
An advance-fee scam is a form of fraud and is one of the most common types of confidence tricks. The scam typically involves promising the victim a significant share of a large sum of money, in return for a small up-front payment, which the fraudster claims will be used to obtain the large sum. [ 1][ 2] If a victim makes the payment, the ...
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 ...
In 2008, the Wittelsbach Diamond, a 35.56-carat (7.112 g) blue diamond once belonging to the King of Spain, fetched over US$24 million at a Christie's auction. [58] In May 2009, a 7.03-carat (1.406 g) blue diamond fetched the highest price per carat ever paid for a diamond when it was sold at auction for 10.5 million Swiss francs (6.97 million ...
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