The Supreme Court this week ruled in favor of Amex on the issue of swipe fees, narrowing the options small businesses have to reduce costly swipe fees.
Tag Archive: swipe fees
Recently, a U.S. District Court Judge handed down a decision overturning the U.S. Federal Reserve’s rule limiting the size of swipe fees that financial institutions can charge merchants every time a debit card is used to pay for a good or service.
Late last week, Visa, MasterCard and several of the nation’s largest banks signed on to a proposed settlement agreement in an antitrust class action lawsuit over swipe fees and allegations of price fixing. The settlement, while a step in the right direction but far from ideal, illustrates the dire need for further swipe fee reform.