News
Banks" Swipe Fee Win in Illinois Threatens Bills Nationwide
19+ hour, 43+ min ago (113+ words) Bloomberg Law News A ruling this week from a federal judge in Chicago exempting national banks and payment card networks from an Illinois law barring "swipe fees" on retail taxes and tips is already putting similar measures around the country…...
Illinois Delays Tax, Tip Swipe Fee Ban That Drew Banks" Lawsuit
4+ day, 21+ hour ago (123+ words) Bloomberg Law News Illinois lawmakers delayed by another year a law banning the collection of "swipe fees" on retail taxes and tips as banks and credit unions seek to invalidate the statute in court. The state"s Interchange Fee Prohibition…...
Illinois Swipe Fee Law Sent to Lower Court for Preemption Review
4+ week, 18+ hour ago (51+ words) Bloomberg Law News A federal district court must reconsider its ruling that Illinois can ban national banks from charging "swipe" fees on retail taxes and tips in the state. Learn more about Bloomberg Law or Log In to keep reading:...
Mastercard's Tax Position Scrutinized by South Carolina Panel
1+ mon, 54+ min ago (117+ words) Bloomberg Law News A panel of South Carolina appellate judges had tough questions at oral arguments Wednesday for Mastercard International Inc. in its case over how to determine what portion of its business is taxable in the state. Mastercard argues…...
Fed Appeals Decision Overturning Debit Card "Swipe Fee" Cap
7+ mon, 4+ week ago (152+ words) The Federal Reserve is appealing a district court ruling that invalidated a debit card "swipe fee" rule the central bank developed more than a decade ago to limit the controversial charges retailers must pay on the transactions. The Fed on…...
Visa Must Face Debit Card Monopoly Class Action, Judge Rules
9+ mon, 2+ week ago (157+ words) A $5. 6 billion settlement over card swipe fees in 2019 doesn't apply to a new set of antitrust cases accusing Visa Inc. of monopolizing the debit card market, a federal judge ruled. The two sets of cases do overlap, but the facts…...