News Topic: Interchange fees

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Visa and Mastercard are facing fresh opposition from U.S. retailers in a long-running legal fight over the fees merchants pay each time consumers swipe their credit or debit card at checkout. ]] ... Read full article

Mastercard and Visa's one-year delay is only a partial victory for retailers, who want the networks to have less power to set rates. ]] ... Read full article

Visa and Mastercard are postponing plans to boost the fees U.S. merchants pay when consumers use credit cards online, pushing back the changes another year to April 2022 because of the pandemic. ]] ... Read full article

Noninterest income from Paycheck Protection loans and mortgage refinancings isn't enough to make up for shortfalls elsewhere, and growth prospects are hard to identify. ... Read full article

Noninterest income from Paycheck Protection loans and mortgage refinancings isn't enough to make up for shortfalls elsewhere, and growth prospects are hard to identify. ... Read full article

A showdown between megabanks such as JPMorgan Chase and the likes of Apple and PayPal could be the prelude to a broader fight. ... Read full article

The fees banks charge to merchants have skyrocketed because people are making more purchases using their credit cards during the pandemic. Lawmakers can cap these fees before they further eat into retailers' profits. ... Read full article

The U.K. Supreme Court has rejected Mastercard’s attempt to force individual lawsuits over claims the card brand overcharged consumers and negatively impacted competition for more than a decade. ... Read full article

The pandemic has altered a variety of consumer behaviors, and that could make a difference in what sort of interchange and interest revenue financial institutions see in their credit and debit portfolios as they close out 2020. ... Read full article

Deposits have piled up, curtailing overdrafts and other fees. The trend could force lenders to find other ways to make money — or start cutting to the bone. ... Read full article

Big banks will need to show how well they can withstand three different scenarios before they can pay dividends; the German payments company is still looking for $2 billion of missing funds. ... Read full article

H&R Block intends to break off the relationship since the parties have been unable to restructure compensation to reflect new interchange fee caps at Axos. ... Read full article

Stay-at-home orders and business shutdowns have led to a sharp decline in consumer use of credit and debit cards. ... Read full article

With coronavirus presenting significant challenges for retailers and the technical challenges of imposing interchange fee changes in the networks, Visa, Mastercard, American Express and Discover are holding off on the updates. ... Read full article