TOY-FAIR_1170x120_9-20-21

Federal Reserve

Merchants call on Fed to cut debit card swipe fees

Merchants call on Fed to cut debit card swipe fees

WASHINGTON – The Merchants Payments Coalition on Tuesday called for the Federal Reserve to revise debit card swipe fee rules to reflect lower bank costs. The swipe fee regulations were adopted a decade ago, and a new Fed report shows that banks’ average cost of processing the transactions has since fallen by half. “The Fed

Retailers sue Fed over debit card swipe fees

Retailers sue Fed over debit card swipe fees

WASHINGTON — Retailers filed a lawsuit on Thursday seeking to compel the Federal Reserve to lower its 10-year-old cap on the “swipe” fees banks charge to process debit card transactions. The suit, filed by the North Dakota Retail Association and the North Dakota Petroleum Marketers Association in U.S. District Court in Bismarck, N.D., charges that

Retail sales remain anemic in October

WASHINGTON – Retail sales increased 0.1% in October after being unchanged in September and August, the Commerce Department said. So-called core retail sales rose 0.2% last month after increasing 0.1% in September, the government noted. Core sales exclude automobiles, gasoline, building materials and food, and therefore correspond more closely to the consumer spending component of