No Payoff For Plaintiffs Seeking To Reinstate ATM Fee Antitrust Litigation

The United States District Court for the Northern District of California has denied plaintiffs’ motion to reconsider its September 16 2010, ruling that plaintiffs in the ATM Fee Antitrust Litigation have no standing to pursue their price fixing claims against an ATM network and a group of banks.  The District Court dismissed plaintiffs’ claims under the rule of Illinois Brick Co. v. Illinois, 431 U.S. 720 (1977), that generally only...

Payments News Update – November 7, 2025

Legal and Regulatory Developments SPOTLIGHT: Wells Fargo, PNC Push Fintechs to Use Bank-Backed Data Firm Bloomberg Law – November 4, 2025 (subscription may be required) Wells Fargo & Co. and PNC Financial Services Group Inc. are trying to force data aggregators and fintechs to use a bank-backed firm that charges fees to access customer data, the latest salvo in a fight between traditional lenders and third-party tech firms over the...

Payments News Update – July 25, 2025

Legal and Regulatory Developments SPOTLIGHT: CFPB Official Questions JPMorgan Fees for Customer Data Access Bloomberg Law – July 18, 2025 At least one political appointee at the Consumer Financial Protection Bureau is raising concerns about fees JPMorgan Chase & Co. plans to charge data aggregators and financial technology companies for accessing customer data. The official, in conversations with fintechs, is probing whether the agency’s bid to kill a Biden-era open...

Payments News Update – June 20, 2025

Legal and Regulatory Developments SPOTLIGHT: Illinois Delays Interchange Fee Law Payments Dive – June 17, 2025 Illinois Gov. JB Pritzker has delayed implementation of the Illinois Fee Prohibition Act, a first-in-the-nation law that aims to ban card issuers and their networks from charging merchants interchange fees on taxes and tips when consumers pay with credit and debit cards. Pritzker, a Democrat, signed an amendment Monday after the legislature passed a...

Payments News Update – May 30, 2025

Legal and Regulatory Developments SPOTLIGHT: More States Press Interchange Regulation as Illinois Legislators Contemplate Delaying the IFPA Digital Transactions News – May 23, 2025 More states are introducing legislation exempting merchants from paying interchange on sales tax and tips. Bills are currently pending in Alaska, Massachusetts, and New York. In Alaska, the proposed bill, which was attached at the 11th hour to a bill authorizing businesses to pay employees using...

Payments News Update – March 7, 2025

Legal and Regulatory Developments SPOTLIGHT: Visa and Mastercard Accused of Card Monopoly by UK Watchdog PYMNTS – March 6, 2025 Visa and Mastercard face regulatory action in the United Kingdom following a payments watchdog’s investigation. The Payment Systems Regulator (PSR) is considering “remedies” for the two companies after uncovering a lack of competition in the card payment market, according to a Thursday (March 6) press release. “Cards are a popular...

Payments News Update – February 7, 2025

Legal and Regulatory Developments SPOTLIGHT: Credit Card Giants Drain Billions: Can Congress Take Action? GV Wire – February 4, 2025 Few Americans know that they spend on average $1,100 a year to pay for credit card transaction fees. In addition, U.S. retailers pay $170 billion annually to process credit card transactions, according to testimony from the Senate Judiciary Committee in November 2024. More than a decade ago, the federal government limited...

Payments News Update – January 3, 2025

Legal and Regulatory Developments SPOTLIGHT: Merchants Hit Back at a Banking Group’s Request That the Fed Hold Off on Reducing a Debit Interchange Cap Digital Transactions News – December 24, 2024 The Merchants Payments Coalition fired back late Monday at a request last week from the American Bankers Association that the Federal Reserve not act on a proposal to lower a longstanding limit on the interchange banks can earn on...

Payments News Update – December 13, 2024

Legal and Regulatory Developments SPOTLIGHT: Europe Wants UK to Reconsider Proposal to Cap Credit Card Fees Bloomberg – December 12, 2024 (subscription may be required) A top UK regulator is facing pushback from European lawmakers as it continues to weigh new rules to restrict how much British merchants must pay in credit-card fees on online purchases by consumers from the continent. Members of the European Parliament from Ireland, Spain, France,...

Payments News Update – October 11, 2024

Legal and Regulatory Developments SPOTLIGHT: Visa Expected to Temper Competitive Moves After DOJ Action Payments Dive – October 3, 2024 Visa’s retail clients and fintech competitors may find their market positions strengthened in the wake of the federal government filing an antitrust lawsuit against the card network last week, industry players say. Federal prosecutors alleged that Visa, the largest U.S. card network, established a monopoly in the U.S. debit card...