A proposed settlement between Visa Inc., MasterCard Inc. and retailers offers $6.5 billion to retailers and a lower swipe fee for eight months.
The NRF and retailers, after months of aggressive campaigning, are disappointed by the decision to set the debit card swipe fee at $0.21 per transaction.
In an effort to preserve swipe fee reform, the National Retail Federation (NRF) recently launched a 60 day advocacy campaign. The initial provision requiring the Federal Reserve Bank to issue rules that place ‘reasonable’ limits on debit card swipe fees, is now a reform valued at $14 billion a year, and one that the NRF […]
The National Retail Federation has welcomed a letter from a coalition of consumer groups opposed to legislation that would delay swipe fee reform, scheduled to go into effect this summer. “Consumer groups want to see these skyrocketing fees brought under control,” NRF Senior VP and General Counsel, Mallory Duncan, said in a statement. “Contrary to […]
Battle continues as small businesses fight to keep transaction fees low as promised in financial reform bill.
Store owners keep pressure on lawmakers to limit fees despite credit card companies’ efforts to raise them.