Consumer Finance Monitor Podcast Episode: Understanding the Federal Reserve Board Proposal to Lower Interchange Fee Cap for Debit Card Transactions
This Freeman Law Insights blog discusses Chapter 604A of the Texas Business and Commerce Code (“Chapter 604A”) which, as written, prohibits merchants from imposing a surcharge on a buyer who uses a debit card or a credit card...more
On December 23, the FTC ordered a payment card company to stop blocking merchants from using competing debit payment networks. According to an agency investigation, the company allegedly violated provisions of the Durbin...more
Colorado recently became the latest state to eliminate a statutory ban prohibiting merchants from imposing a surcharge on customers who elect to pay for a transaction via credit or charge card. The Credit Transaction Charge...more
Lightning never strikes twice, as the saying goes. But as many merchants are finding out these days, misfortune, in fact, strikes in threes. Not only has COVID-19 caused a substantial slowdown in the U.S. economy and...more
In recent years, federal antitrust enforcers and businesses that accept payment cards have been waging a slow war against payment card fees and the card network rules that protect them. The payment card industry’s antitrust...more
Most credit and debit cards in the U.S., and the point of sale terminals and ATMs that read them, still use “magnetic stripe” technology. Magnetic stripes are obsolete and relatively insecure, allowing fraudulent practices...more