Legislators Urge Visa, Mastercard to Cancel Swipe-Fee Increases
A bipartisan letter to the credit card companies said that the fees hurt consumers; swipe fees were up over 25.6% in c-stores last year.
Source: pressreleasepoint.com
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Merchants Call on Congress to Examine Swipe Fees
WASHINGTON—Merchants are calling on Congress to add swipe fees to their examination of bank fees, according to a news release.
Source: pressreleasepoint.com
CFPB Finds Credit Card Companies Charged $12 Billion in Late Fee Penalties in 2020
WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) issued a report today showing that credit card issuers charged $12 billion in late fees in 2020. Late fee penalties are charged in addition to interest when a cardholder does not make the minimum payment by the due date.
Source: pressreleasepoint.com
Merchants Call to Bring Swipe Fees Under Control as Card Use Increases
WASHINGTON—Sixty-four percent of small businesses surveyed expect to go cashless over the next decade, while 41% plan to not accept cash within the next two years, according to a new study by Visa. Eighteen percent of small businesses are already cashless.
Source: pressreleasepoint.com
Amazon Reverses Course on U.K.-Issued Visa Cards
LONDON—Amazon has shelved its plan to stop accepting Visa credit cards issued in the United Kingdom, reports CNBC . A statement issued by Amazon yesterday said that the changes “will no longer take place.”
Source: pressreleasepoint.com