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Financial Services Industry Merchants Credit Cards

MG+M The Law Firm

Visa/Mastercard Antitrust Class Action Claim Filing Deadline Extended to February 4

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UPDATE: In the massive antitrust class action against Visa, Mastercard and more than 25 banks, the deadline has been extended to February 4, 2025 for victims of overpaid credit or debit card transaction fees to file a claim...more

Alston & Bird

Merchant Plaintiffs Reach Settlement in Payment Card Interchange Fee and Merchant Discount Antitrust Litigation

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Our Financial Services Group summarizes the closely observed preliminary settlement agreement over the fees credit card companies and banks charge merchants....more

Troutman Pepper

Exploring the Potential of Georgia's Merchant Acquirer Limited Purpose Bank Charter — Payments Pros: The Payments Law Podcast

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In this episode of Payments Pros, Keith Barnett is joined by James Stevens to discuss the Merchant Acquirer Limited Purpose Bank Charter (MALPB) in Georgia, a unique charter that allows companies to offer merchant payment...more

Katten Muchin Rosenman LLP

New York Will Soon Require Merchants to Provide Additional Credit Card Surcharge Disclosures

On December 13, 2023, New York Governor Kathy Hochul signed into law Assembly Bill 2672, which has significant implications for merchants in that it imposes disclosure requirements with respect to credit card surcharges for...more

Stinson LLP

New York Amends Existing Credit Card Surcharge Prohibition

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On December 13, 2023, the State of New York enacted Assembly Bill No. 2672 (Act), which modifies New York’s ban on credit card surcharges. The revised law takes effect on February 11, 2024....more

Troutman Pepper

Key Elements of the Proposed Credit Card Competition Act

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In June, Sens. Richard Durbin, D-Ill., Roger Marshall, R-Kan., Peter Welch, D-Vt., and J.D. Vance, R-Ohio, introduced the Credit Card Competition Act of 2023, which is a reintroduction of a substantially identical bill...more

Stinson LLP

New Jersey Joins Other States in Limiting Credit Card Surcharges

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The State of New Jersey has passed a new law limiting the amount of a credit card surcharge by a seller on a purchase of goods or services. New Jersey joins 12 other states and territories that have had laws on their books...more

Orrick, Herrington & Sutcliffe LLP

FTC, Florida AG sue “chargeback mitigation” company

On April 12, the FTC and the Florida attorney general filed a complaint in the U.S. District Court for the Middle District of Florida alleging a “chargeback mitigation” company and its owners (collectively, “defendants”) used...more

Orrick, Herrington & Sutcliffe LLP

FTC orders card company to let merchants use other debit networks

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

Perkins Coie

COVID-19: Reserve Issues in Credit Card Processing Agreements

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COVID-19’s effect on the economy does not discriminate. Business activity has slowed down significantly for many companies, and even more drastically in certain sectors. Some of the industries that have been hit the hardest...more

Manatt, Phelps & Phillips, LLP

Retailer Wins Lawsuit Against Its Merchant Processor

Are assessments from the credit card networks damages that a merchant should be liable for under its merchant agreement? The U.S. Court of Appeals for the Sixth Circuit affirmed a multimillion-dollar judgment in favor of the...more

Ballard Spahr LLP

Parties in case challenging constitutionality of NY “no credit card surcharge” law jointly seek dismissal of complaint and appeal

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The NY Attorney General and the plaintiffs in Expressions Hair Design v. Schneiderman have filed a joint motion with the U.S. Court of Appeals for the Second Circuit asking the court to vacate the district court’s final...more

Foley & Lardner LLP

Ninth Circuit Holds That a Prohibition on Credit Card Surcharges Abridges Merchants’ Freedom of Speech in Violation of First...

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The Ninth Circuit’s recent decision in Italian Colors Rest. v. Becerra (“Italian Colors”), upheld an as-applied constitutional challenge to a California law prohibiting retailers from imposing a surcharge on customers paying...more

Seyfarth Shaw LLP

Freedom To Surcharge—Ninth Circuit Rules Businesses Can Charge Card Fees

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Seyfarth Synopsis: Ninth Circuit upholds district court decision granting five businesses injunctive relief, finding that state law banning credit card surcharges is unconstitutional as applied to the five businesses. ...more

Ballard Spahr LLP

Ninth Circuit Rules California "No Credit Card Surcharge" Law Violates First Amendment

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A California law that prohibits merchants from imposing a surcharge on credit card purchases violates the First Amendment of the U.S. Constitution, a unanimous panel of the U.S. Court of Appeals for the Ninth Circuit has...more

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