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News
Illinois’ ‘swipe fee’ law on the brink after another delay, adverse court ruling
3+ mon, 1+ week ago (1090+ words) SPRINGFIELD, Ill. (Capitol News Illinois) — An Illinois law banning “swipe fees” on taxes and tips — already delayed twice by lawmakers — appears to be on life support after a federal judge that once permitted it issued a permanent injunction against it this…...
Australia to ban surcharging on payment cards, deliver savings worth A$2.5 billion
5+ mon, 1+ week ago (247+ words) SYDNEY, March 31 (Reuters) – Australia’s central bank said on Tuesday that it would end surcharges on debit and credit card payments for consumers from October 1, while lowering interchange fees paid by businesses in steps estimated to save about A$2.5 billion a…...
Visa, Mastercard reach revised swipe fee settlement, court filing shows
10+ mon, 2+ day ago (116+ words) NEW YORK (Reuters) -Visa and Mastercard have reached a revised settlement with merchants who accused the card networks of charging too much to accept their credit cards, according to a Monday court filing. The proposed settlement was disclosed in a…...
Fate of Illinois’ first-in-the-nation credit card ‘swipe fee’ ban awaits judge’s ruling
10+ mon, 2+ week ago (640+ words) CHICAGO — A law that would make Illinois the first jurisdiction in the world to ban financial institutions from charging “interchange fees” on the tax and tip portions of debit and credit card transactions finally got its day in court this…...