WASHINGTON – The National Retail Federation today called on Congress to address credit card “swipe” fees by passing legislation allowing retailers to route transactions over competing networks offering lower fees and improved security. “It’s time for big banks and global card networks to compete the same as small businesses do every day,” Stephanie Martz,
Earlier this month retailers had a chance to vent their frustration about the high fees they incur when their customers pay for their purchases with a credit or debit card. The occasion was a Senate Judiciary Committee hearing called “Excessive Swipe Fees and Barriers to Competition in the Credit and Debit Card Systems.” Judiciary Committee
NEW YORK — An appeals court ruling has struck down the 2012 settlement of a class-action lawsuit over credit card swipe fees imposed by Visa and MasterCard. The settlement had been opposed by a significant portion of the retail industry. The case originated in a 2005 lawsuit filed by 19 retailers and trade associations against