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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 ...
In April 2007 Visa announced it would raise its rate .6% to 1.77%. [17] [18] According to a January 2007 poll by Harris interactive, only about a third of the public had heard of interchange fees; once explained to them, 90% said that the United States Congress "should compel credit card companies to better inform consumers" about the fee. [19]
In 2002, the European Commission exempted Visa's multilateral interchange fees from Article 81 of the EC Treaty that prohibits anti-competitive arrangements. [94] However, this exemption expired on December 31, 2007. In the United Kingdom, Mastercard has reduced its interchange fees while it is under investigation by the Office of Fair Trading.
In April 2023, Sun also commented that the program was popular among "foreign talent." [ 80 ] SCMP reported that 95% of approvals were also given to mainland Chinese. [ 81 ] On 30 June 2023, local media also confirmed that 95% of approvals were given to mainland Chinese; when asked about if the program was unattractive to foreigners, Sun said ...
To qualify for the Visa Waiver Program, a country must have had a visa refusal rate of less than 3% for the previous year. [38] This refusal rate is based on applications for B visas, for tourism and business purposes. B visas are adjudicated based on applicant interviews, which generally last between 60 and 90 seconds.
The most common non-immigrant visa is the multiple-purpose B-1/B-2 visa, also known as the "visa for temporary visitors for business or pleasure." Visa applicants sometimes receive either a B-1 (temporary visitor for business) or a B-2 (temporary visitor for pleasure) visa, if their reason for travel is specific enough that the consular officer ...
This is a list of Internet exchange points by size, measured by peak data rate ( throughput ), with additional data on location, establishment and average throughput. Generally only exchanges with more than ten gigabits per second peak throughput have been taken into consideration. The numbers in the list represent switched traffic only (no ...