Plantiffs also say the sheer size of the debit card market make their case big enough for the nation's highest court.
CUNA, NAFCU and bank trade associations fire off a letter to leaders on Capitol Hill countering what they say are false retailer claims about data breaches.
LAS VEGAS — Annual loss of revenue to $11.5B credit union could increase if Federal Reserve rewrites rule, BECU exec tells ACUMA confab.
Merchant Payments Coalition cites CUNA survey, says smaller-asset institutions shielded from interchange cap.
The multiple-party, multiple-year case over credit card interchange moved one step closer to resolution on Nov. 9 when the Honorable Judge John Gleeson granted preliminary approval of the settlement agreement between retailers, payment networks and nine major card issuers.
Decision can still be appealed and National Retail Federation said it's considering that route.
Two trade associations of retailers have filed briefs asking a judge to reject the proposed settlement of that suit.
The negotiated settlement meant to end the longstanding dispute over credit card interchange moved closer to becoming final last week as attorneys for both sides in the dispute proposed a final settlement agreement to the U.S. District Court in New York and made a motion for its approval.
The Electronic Payments Coalition expects both sides of a proposed settlement on card interchange will file definitive settlement agreement on Friday.
National Retail Federation exploring intervention, not a party to the original legal fight.