swipe fees

Restaurants Hold a Credit Card Boycott - With a Twist

Twenty restaurants and cafes in the Boston and Washington, D.C., areas staged a one-day credit card boycott on Tuesday, targeted at interchange fees charged by card issuers. But it wasn't an grassroots, merchant-led event. It was organized by mobile payment processor LevelUp.

New Credit Card 'Checkout Fee' Arrives This Weekend

This Sunday marks the first day that consumers could start paying an extra fee just for using their credit card to make purchases. But don't panic: It's unlikely to kick in right away, especially at the biggest retailers.

Merchants May Win the Right to Charge Credit Card Users More

Merchants have long sought the right to charge customers more for paying with a credit card, which would help them defray the cost of accepting plastic. That's currently banned by Visa and MasterCard, but deal in the works could change that.

How a Debit Card Fee Cut Backfired on Merchants

Washington's efforts at financial reform keep having strange and unintended consequences. In response to a law that was meant to lower excessive debit card transaction fees on merchants, Visa and Mastercard found a way to raise the fees on a host of small businesses.

Wells Fargo's $3 Debit Card Charge: More Fees to Come?

A new report emerged Tuesday that Wells Fargo will begin charging some customers $3 every month to use their debit card -- further indication that banks are putting on the squeeze as new swipe-card regulations are set to take effect.

Ask the Expert: 'Do I Pay Extra For Swiping My Card?'

We got lots of reaction to our article about how changes in debit and credit card swipe fees may affect you. Swipe fees are the charges retailers pay when they allow you to use plastic. One question kept coming up: "Do I pay those fees when I use my debit card?" Regina Lewis explains.

How the Cut in Debit Card Swipe Fees Will Affect You

Banks received some long-awaited news last week: the Fed capped the fees they can charge to retailers on debit card transactions at roughly 24 cents per transaction, down from an average of 44 cents. It was better than they'd feared: The initial proposal was a 12 cent cap. But how will all those pennies add up for consumers?

Fed to Set Final Rule on Debit Card Swipe Fees

The Federal Reserve is preparing to issue its final rule on debit card "swipe fees" Wednesday. If the expected cut to those fees arrives, banks are likely to respond by cutting interest rates on high-yield checking accounts and squeezing profits from other banking products. DailyFinance explains what it all means to you.

Amex Sued by Feds for Anticompetitive Merchant Rules

The Justice Department filed an antitrust lawsuit against American Express Monday, alleging that the financial institution has been engaging in anticompetitive practices. Justice also said it reached a proposed settlement with Visa and MasterCard over similar charges.

Financial Reform: Two Key Wins for Consumers

A pair of major wins for consumers in the financial regulation overhaul may end up giving Americans substantial savings on everything from debit cards to mortgages. Find out how consumers benefit from the new rules being hammered out in Congress.

Congress Steps Up the Battle Over Card 'Swipe Fees'

An increasingly heated debate about so-called swipe fees, the estimated $48 billion that merchants pay to banks and credit card companies for the use of those ubiquitous debit card terminals, is taking place in Congress as it considers a package of reforms that could limit how much merchants can be charged for debit card transactions.