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Payments News Update – April 12, 2024

Posted  04/12/24
Legal and Regulatory Developments SPOTLIGHT: Visa, Mastercard CEOs Throw Hearing Off Track Payments Dive – April 9, 2024 Sen. Dick Durbin opted to postpone a Senate Judiciary hearing this week focused on Visa and Mastercard’s business practices after CEOs of the credit card companies declined to appear Tuesday. But Durbin, who chairs the committee, is still angling to bring those chief executives to...

The Antitrust Week In Review

Posted  04/5/24
Here are some of the developments in antitrust news this past week that we found interesting and are following.   Meta cannot delay US FTC from reopening privacy probe, court says.  Meta Platforms cannot delay the U.S. Federal Trade Commission from reopening a probe into alleged privacy failures by its Facebook unit while the company pursues a lawsuit challenging the agency's authority, a U.S. court ruled. The...

Payments News Update – April 5, 2024

Posted  04/5/24
Legal and Regulatory Developments SPOTLIGHT: Mastercard Still Raising Some Fees on Retailers After Settlement Bloomberg Law – April 3, 2024 (subscription may be required) Mastercard Inc. plans to increase certain credit card fees charged to merchants beginning April 15, just days after the company and Visa Inc. trumpeted a $30 billion settlement over separate swipe fees designed to provide relief to retail...

The Antitrust Week In Review

Posted  03/29/24
Here are some of the developments in antitrust news this past week that we found interesting and are following.   American Express sued in merchants' class-action over 'swipe' fees.  American Express has been hit with a proposed class action lawsuit in Rhode Island federal court accusing it of overcharging thousands of U.S. merchants for credit and debit card fees on consumer transactions. Ten retail plaintiffs...

Payments News Update – March 29, 2024

Posted  03/29/24
Legal and Regulatory Developments SPOTLIGHT: Visa, Mastercard Swipe Fee Deal Fails to Stem More Litigation Bloomberg Law – March 28, 2024 (subscription may be required) Visa Inc. and Mastercard Inc.'s $30 billion swipe fee settlement with merchants provides only temporary relief for US businesses and won’t stop additional litigation against the payment networks, critics say. The companies this week...

Payments News Update – March 8, 2024

Posted  03/8/24
Legal and Regulatory Developments SPOTLIGHT: Taking the Measure of Click to Cancel Digital Transactions Magazine – March 1, 2024 Faced with a proposal to make it easier to stop a subscription, payments companies and subscription specialists have much to ponder. Everyone dreads the inevitable sales pitch that comes when trying to cancel some subscriptions. There’s multiple pages to read online and the...

Payments News Update – March 1, 2024

Posted  03/1/24
Legal and Regulatory Developments SPOTLIGHT: GOP Senators Propose Ban on Central Bank Digital Currencies The Hill – February 26, 2024 Republican senators introduced legislation Monday that would ban official cryptocurrencies backed by central banks, a type of proposed digital asset that the Biden administration and Federal Reserve have expressed interest in studying. GOP senators said that Fed-backed...

Payments News Update – February 23, 2024

Posted  02/23/24
Legal and Regulatory Developments SPOTLIGHT: US Supreme Court Wrestles With Bid to Challenge Debit Card 'Swipe Fee' Rule Reuters – February 20, 2024 U.S. Supreme Court justices on Tuesday grappled with a North Dakota convenience store's challenge to a government regulation on debit card "swipe fees" - a case that could make it easier for businesses to try to undo longstanding federal rules. Arguments in the...

The Antitrust Week In Review

Posted  02/20/24
Here are some of the developments in antitrust news this past week that we found interesting and are following.   On the Ground of Biden’s Antitrust Agenda.  Big deals are waiting on the tarmac as Wall Street and the business world anticipate how the presidential election will change antitrust enforcement. President Biden has taken an aggressive approach to policing deals that some have called overreaching...
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