| NRF to Reject ‘One-Sided’ Credit Card Swipe Fee Settlement|
Release Date: May 21, 2013
NRF announced today that it will formally oppose a proposed settlement of a federal antitrust lawsuit over credit card swipe fees charged by Visa and MasterCard, and urged retailers to carefully consider their own decisions before next week’s deadline set by the court.
|NRF Says Swipe Fee Settlement Still Unacceptable to Retailers|
Release Date: October 19, 2012
The National Retail Federation said a revised antitrust settlement filed in federal court today scarcely begins to address retailers’ concerns about credit card swipe fees charged by Visa and MasterCard that cost consumers close to $30 billion a year.
|NRF Says Swipe Reform Saving Up to $18 Million/Day|
Release Date: September 25, 2012
With the first anniversary of debit card swipe fee reform approaching next week, U.S. retailers and their customers are benefiting from savings of up to $18 million a day that previously went to card companies and the nation’s largest banks, the National Retail Federation estimates.
|NRF Authorized to Go to Court to Block Swipe Fee Lawsuit Settlement|
Release Date: September 10, 2012
The National Retail Federation today announced that its Board of Directors has authorized the Federation to go to court to block the proposed $7.25 billion settlement of a federal antitrust lawsuit over skyrocketing Visa and MasterCard credit card swipe fees that cost consumers hundreds of dollars a year.
|NRF Expresses Deep Disappointment in Federal Reserve for Watering Down Swipe Fee Reform|
Release Date: June 29, 2011
The National Retail Federation today expressed serious disappointment in the final debit card swipe fee regulations set today by the Federal Reserve, calling it a major loss for American consumers. Under the new rule, the current debit card swipe fee rate of 1-2 percent of each transaction – about 44 cents on the average retail purchase but several dollars on bigger-ticket items – will be replaced with a flat fee of not more than 21 cents per transaction for the nation’s largest banks. That is significantly higher than the flat fee of up to 12 cents the Fed originally proposed in December 2010.
|National Retail Federation Calls Swipe Fee Vote Victory For American Consumers|
Release Date: June 08, 2011
NRF President and CEO Matthew Shay issues a statement upon Senate passage of the Tester-Corker amendment to delay swipe fee reform: “This is a landmark victory for American consumers that will give them the break from skyrocketing swipe fees that they have been seeking for years..."
|NRF Letter to Senate Calls Tester’s Swipe Fee Reform ‘Compromise’ a ‘Sham’|
Release Date: June 07, 2011
NRF today asked senators to reject a “compromise” amendment offered by Senator Jon Tester that would delay a new federal law intended to save retailers and consumers more than $1 billion a month by lowering “swipe” fees banks charge to process debit card transactions.
|NRF Says Bernanke Remarks Show No Need to Delay Swipe Fee Reform|
Release Date: May 12, 2011
NRF welcomed Federal Reserve Chairman Ben Bernanke’s remarks before the Senate Banking Committee today on regulations aimed at lowering the “swipe” fees banks charge retailers and consumers to process debit card transactions by more than $1 billion a month.
|NRF Welcomes Consumer Groups’ Support for Swipe Fee Reform|
Release Date: March 31, 2011
NRF welcomed a letter from a coalition of consumer groups opposed to legislation that would delay swipe fee reform scheduled to go into effect this summer.
|NRF Welcomes Bernanke Promise to Complete Swipe Fee Reform Regulations by Summer|
Release Date: March 29, 2011
NRF welcomed today’s commitment by Federal Reserve Chairman Ben Bernanke that the agency will complete final swipe fee reform regulations in time for retailers to begin offering customers discounts and other benefits this summer as scheduled.
|NRF Says Legislation to Delay Swipe Fee Reform Would Deprive Consumers of Debit Card Discounts|
Release Date: March 15, 2011
NRF said legislation introduced today to delay swipe fee reform scheduled to go into effect this summer would block retailers from giving discounts to consumers who use debit cards and would cost merchants and the public more than $1 billion per month.
|NCCR Expresses Disappointment with Legislation to Devastate Debit Card Swipe Fee Reform |
Release Date: March 15, 2011
NCCR today expressed deep disappointment regarding the introduction of legislation in Congress to halt pro-consumer debit card swipe fee reform.
|Retailers Say Federal Reserve Proposal to Lower Debit Card Swipe Fees Doesn’t Go Far Enough|
Release Date: February 23, 2011
The National Retail Federation told the Federal Reserve this week that a proposal to cap debit card swipe fees at 12 cents per transaction does not go far enough, and that banks should honor debit transactions at or close to face value, the same as checks.
|Retailers Say Delaying Swipe Fee Reform Could Cost Merchants and Customers $1 Billion Per Month|
Release Date: February 17, 2011
NRF today urged Congress not to delay debit card swipe fee reform scheduled to take effect this summer, saying the card industry’s push for postponement could cost retailers and their customers more than $1 billion per month.
|NRF Says Federal Reserve Action on Debit Cards Could Lead to Discounts for Consumers|
Release Date: December 16, 2010
NRF welcomed proposed regulations released today by the Federal Reserve intended to result in “reasonable” swipe fees for debit cards, saying a significant reduction in the fees would result in lower costs for merchants and could lead to discounts for their customers.
|NRF Welcomes Settlement on Swipe Fees|
Release Date: October 04, 2010
The National Retail Federation welcomed today’s announcement that the Justice Department has reached a settlement with Visa and MasterCard in a two-year antitrust investigation into practices that have blocked retailers from offering discounts or other incentives to retail customers who pay by cash, check or types of credit cards that cost merchants less to accept than other cards.
|NRF Says Federal Reserve Report on Credit Card Swipe Fees Shows Need for Further Federal Action|
Release Date: July 28, 2010
The National Retail Federation today said a new Federal Reserve study showing that credit card swipe fees result in a “transfer of income” from low-income individuals to wealthy individuals is evidence of the need for further federal action to control the fees.
|NRF Calls Signing of Swipe Fee Fix Important First Step, Urges Regulators to Treat Debit Same as Checks|
Release Date: July 21, 2010
The National Retail Federation welcomed today’s signing of financial reform legislation that includes landmark provisions to control the $48 billion in credit and debit card swipe fees paid by retailers and their customers each year, and urged regulators to follow Congress’ intent of achieving major reductions in the fees.
|NRF Calls Passage of Landmark Swipe Fee Fix Major Victory|
Release Date: July 15, 2010
Provisions in the financial services reform bill passed by the Senate today requiring reasonable debit card swipe fees and making it easier for merchants to give discounts to customers who don’t use credit cards represent a major victory for retailers and consumers in their fight against card fees, the National Retail Federation said.
|NRF Welcomes House Passage of Swipe Fee Fix, Says Measure will Help Hold Down Prices for Consumers|
Release Date: July 01, 2010
The National Retail Federation welcomed a provision in financial services reform legislation passed by the House today that will help hold down the $20 billion in debit card swipe fees.