If you received a notice of a class action lawsuit claiming you may be affected by a payment card settlement, you’re probably wondering if it’s legitimate. It is, but there are some important things to know.
Credit card processing companies are popping up left and right offering “cash discount” programs to eliminate your credit card processing fees. Are they legal and are they permitted in merchant agreements?
You may have heard that a case involving American Express went to the Supreme Court. The case, Ohio v. American Express, determined whether businesses are allowed to suggest customers use lower cost credit cards when paying for purchases.
In the latest accusation against Wells Fargo, the company’s merchant services division is facing a lawsuit that alleges misleading sales tactics, expensive cancellation fees, and overbilling, including mislabeling some of its own fees as interchange.
The introduction of a bill to repeal the Durbin Amendment has added more fuel to the fiery debate between the nation’s largest banks and retailers. But at least for now, it’s not going anywhere.
It’s a case of a home improvement retail giant versus two network payment processing behemoths. In mid-June 2016, Home Depot filed an antitrust lawsuit in federal district court in Atlanta against Visa and Mastercard, alleging credit card security is inadequate and exposes retailers and customers to hacking.