Page 46 - Durbin Amendment News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Share: On Friday, The U.S. Federal Reserve issued a press release highlighting proposed changes to debit card routing rules that analysts say could have an impact on Visa Inc (NYSE: V) and Mastercard Inc (NYSE: MA). What Happened? The proposed debit routing rules would require debit card issuers to enable their cards to allow merchants to choose from at least two unaffiliated networks to route transactions that occur online or without a physical card present. The new rule would supplement the existing 2011 Durbin Amendment regulations on debit card transactions. The new rule proposal also c...

Commentary: Andrew F. Quinlan - The folly of credit card price controls Andrew F. Quinlan FacebookTwitterEmail The popularity of COVID relief has provided an excuse for Congress to pass items with tenuous connections, at best, to the pandemic, but that have long populated liberal wish lists. Even after the passage of the $1.9 trillion so-called stimulus, the trend is likely to continue. To the detriment of consumers, an expansion of debit card price controls to include credit cards may be next up on the list. Over 10 years ago, the Dodd-Frank Wall Street Reform and Consumer Protection Act inc...

Merchants sue Federal Reserve over fees for debit cards ANNE D'INNOCENZIO, AP Retail Writer April 29, 2021 FacebookTwitterEmail FILE - In this Thursday, Nov. 28, 2013, file photo, a woman pays by credit card while checking out at a retail store in Colma, Calif. Two trade groups representing businesses in North Dakota filed a lawsuit Thursday, April 29, 2021, against the Federal Reserve, asking the agency to lower its 10-year-old cap on “swipe” fee banks charge to process debit card transactions.Jeff Chiu/AP NEW YORK (AP) — Two trade groups representing businesses in North Dakota file...

"Banks should not be handed a growing windfall at the expense of Main Street stores and consumers." NRF General Counsel Stephanie Martz WASHINGTON – Retailers filed a lawsuit today seeking to have the Federal Reserve lower its 10-year-old cap on “swipe” fees banks charge to process debit card transactions, saying the agency wrongly applied federal law and that merchants have paid billions of dollars more than intended by Congress while banks’ costs have fallen. “The Fed allowed fees that were much too high in the first place,” National Retail Federation Chief Administrative Office...

Home / Top News / WSFS Reports 1Q 2021 EPS of $1.36 and ROA of 1.85%; Results Reflect Diversified Revenue and Improving Credit Trends; Board Approves an 8% Increase in Cash Dividend WSFS Reports 1Q 2021 EPS of $1.36 and ROA of 1.85%; Results Reflect Diversified Revenue and Improving Credit Trends; Board Approves an 8% Increase in Cash Dividend WILMINGTON, Del., April 22, 2021 (GLOBE NEWSWIRE) — WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, today announced its financial results for the first quarter of 2021. Selected quarterly financial results and metrics are a...