The National Association of Convenience Stores (NACS) has raised concerns about the latest settlement announced in the Payment Card Interchange Fee and Merchant Discount Antitrust Litigation (MDL 1720). “The broken swipe-fee system will not be fixed simply by Visa and MasterCard throwing some money to merchants,” said Lyle Beckwith, NACS SVP for government relations. “These […]
Tag: swipe fees
Posted inAssociation News, Home Page Latest News, Industry News
Supreme Court Rules In Amex’s Favor In Credit Card Fee Case
In a five to four ruling, the U.S. Supreme Court yesterday backed American Express and its rules prohibiting retailers from steering customers to use other, less expensive credit cards. The response from retail organizations was swift, with the Food Marketing Institute (FMI) saying it was “disappointed” with the ruling and the National Retail Federation calling […]
Posted inNortheast, Association News
NACS Steadfast In Opposition To Repeal Debit Swipe Fee Reform
The U.S. House Financial Services Committee has sent House Resolution 10, the Financial Choice Act, to the full House for a vote. The National Association of Convenience Stores (NACS) opposes the bill because it includes a provision to repeal debit swipe fee reform. “As long as HR 10 includes a repeal of debit swipe fee reform, NACS […]
Posted in, Northeast
NACS Opposes House Leader’s Idea To Repeal Swipe Fee Reforms
The National Association of Convenience Stores (NACS) is protesting plans announced by Rep. Jeb Hensarling, chairman of the House Financial Services Committee, to repeal the Durbin Amendment, which reformed debit card swipe fees. In the association’s statement issued June 7, it said, “NACS strongly opposes Rep. Hensarling’s proposal to repeal debit swipe fee reform, which […]
Posted in, National
N.G.A. Opposes Proposed Interchange Fee Settlement
In a unanimous vote, the board of directors of the National Grocers Association (N.G.A.) approved a resolution opposing the proposed interchange fee settlement agreement in the antitrust litigation by merchants against Visa, MasterCard, and their member banks. N.G.A. is a named plaintiff and class representative in the lawsuit In Re Interchange Fee and Merchant Discount […]