American Banker: Illinois judge rules in favor of swipe-fee ban on sales tax and tips
"This is a major victory for merchants, their customers and their employees," said Doug Kantor, general counsel of the National Association of Convenience Stores and a member of the executive committee of the Merchants Payments Coalition, two industry trade groups.
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MPC Hill Blast: 'The Finance Industry Is A Grift'
In an op-ed, American Compass Chief Economist Oren Cass says, "The Finance Industry Is a Grift. Let’s Start Treating It That Way.”
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Payments Dive: Judge backs Illinois law on card fees
“The judge has seen clearly that it’s Visa and Mastercard that run the swipe-fee system and that states can regulate these anti-competitive fees,” Doug Kantor, an executive committee member of the Merchants Payments Coalition, said Tuesday in a statement.
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Convenience Store News: U.S. District Judge Upholds Illinois Swipe Fee Ban on Taxes & Tips
"Merchants provide a service by collecting taxes and tips that are turned over to the state and to employees, and it's unfair to punish them by charging them price-fixed swipe fees for doing that," said MPC Executive Committee member and NACS General Counsel Doug Kantor. "These fees drive up prices for consumers at a time when affordability is the key issue facing our nation's economy. Illinois lawmakers have done the right thing by passing this law and the court has done the right thing by upholding it."
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Digital Transactions: Illinois Merchants Score a Big Win in Their Battle for Interchange Relief
“This is a good and well-reasoned ruling that provides full vindication for what Illinois [legislators] did and what other states looking to regulate interchange may do,” whether it is passing a similar law or taking a different approach to interchange regulation, says Doug Kantor, an executive committee member at the Merchants Payment Coalition and general counsel for the National Association of Convenience Stores.
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MPC Welcomes Court Ruling in Favor of Illinois Ban on Swipe Fees on Sales Tax and Tips
MPC welcomed a ruling by a federal judge in favor of Illinois’ ban on swipe fees on sales tax and tips.
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Retail Customer Experience: Swipe fees could cost consumers $683M on Valentine’s day
"For restaurants, swipe fees are anything but a love story," MPC Executive Committee member and National Restaurant Association Director of Technology and Innovation Policy Brennan Duckett said in the release. "On one of the year's biggest dining holidays, these excessive fees raise costs for restaurant operators and for every couple trying to enjoy a special night out. It's time for Congress to show some love to small businesses and their guests by passing the Credit Card Competition Act."
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Pizza Marketplace: Swipe fees could cost consumers $683M on Valentine’s day
"For restaurants, swipe fees are anything but a love story," MPC Executive Committee member and National Restaurant Association Director of Technology and Innovation Policy Brennan Duckett said in the release. "On one of the year's biggest dining holidays, these excessive fees raise costs for restaurant operators and for every couple trying to enjoy a special night out. It's time for Congress to show some love to small businesses and their guests by passing the Credit Card Competition Act."
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Kiosk Marketplace: Swipe fees could cost consumers $683M on Valentine’s day
"For restaurants, swipe fees are anything but a love story," MPC Executive Committee member and National Restaurant Association Director of Technology and Innovation Policy Brennan Duckett said in the release. "On one of the year's biggest dining holidays, these excessive fees raise costs for restaurant operators and for every couple trying to enjoy a special night out. It's time for Congress to show some love to small businesses and their guests by passing the Credit Card Competition Act."
READ MORE +MPC Hill Blast: Competition Would Help Community Banks, Credit Unions
Community banks and credit unions compete well against the big banks every day. Unfortunately, Visa and Mastercard block competition on merchant fees and services on credit cards. That is not good for community banks and credit unions. The Credit Card Competition Act would help.
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