A recent analysis by the Electronic Payments Coalition (EPC) has highlighted the significant economic impact that electronic payments will have on Cyber Monday, one of the biggest online shopping days of the year.
The Wall Street Journal Editorial Board has published an op-ed criticizing the Durbin-Marshall Credit Card Bill, which is being pushed by Senator Dick Durbin.
The Electronic Payments Coalition (EPC) has released new research highlighting the benefits of electronic payments for both small businesses and consumers during Thanksgiving.
The Senate Judiciary Committee recently concluded a hearing concerning the Durbin-Marshall Credit Card Bill, which has sparked significant controversy.
The American Bankers Association, America's Credit Unions, and several other financial associations have collectively urged Congress to reject new mandates on credit card regulations.
Sales through credit and debit card transactions have contributed to more than $93 trillion in economic activity since 2006, based on data from Nilson.
Electronic Payments Coalition Executive Chairman Richard Hunt has criticized Senate Judiciary Chairman Dick Durbin for holding a hearing he describes as politically motivated.
Electronic Payments Coalition Executive Chairman Richard Hunt expressed concerns following a court hearing regarding an injunction lawsuit against a new Illinois state law.
Virginia's banking and credit union representatives have voiced concerns over a new bill that could change how credit card transactions are processed. The Credit Card Competition Act (CCCA), introduced by Senators Dick Durbin of Illinois and Roger Marshall of Kansas, is at the center of this debate.
The Electronic Payments Coalition has initiated a significant advertising campaign against a new Illinois law concerning credit and debit card processing. The coalition's effort comes as the law faces legal challenges in federal court. According to the coalition, the legislation will lead to complications for consumers and businesses in Illinois.
The Electronic Payments Coalition (EPC) has released its 2024 Q3 Data Dashboard, providing insights into current trends in the credit and debit card markets. According to the data, interchange rates, which are part of the fees retailers pay for processing credit cards, have remained stable at under 2% for nearly ten years. This finding challenges claims that processing costs are increasing.
Senator Durbin and supporters of the Durbin-Marshall Credit Card Bill claim their efforts are aimed at assisting small businesses, yet critics argue that their actions suggest otherwise. The Senator has recently highlighted meetings with the Home Depot CEO and is set to receive an award during a tour of Macy's, which is recognized as the largest department store in the country.
The Office of the Comptroller of Currency (OCC) has expressed strong opposition to a new Illinois law concerning credit and debit card transactions. The OCC filed an amicus brief last week, criticizing the Illinois Interchange Fee Prohibition Act as "bad policy and an unlawful interference with federally granted powers." This legislation is scheduled to take effect on July 1, 2025.
Electronic Payments Coalition (EPC) Executive Chairman Richard Hunt has responded to an amicus brief filed by Senator Dick Durbin, which supports a new law in Illinois altering credit card processing methods. In his statement, Hunt criticized the initiative, suggesting that it favors large corporate entities over small businesses.
An amicus brief submitted by the Office of the Comptroller of Currency (OCC) has brought attention to issues in a new Illinois credit and debit card law, which is set to be implemented on July 1, 2025. The OCC argues that the law, which aims to exclude tax and tip from interchange processing costs, primarily benefits large corporate retailers while causing confusion at checkout points with minimal savings for small businesses.
A recent study has highlighted the potential impact of a new Illinois credit card law, indicating that large retailers will benefit significantly, while small businesses may face increased costs. The law, which exempts tax and tip from credit card interchange fees, is projected to result in $118 million in savings. However, 40 of the largest retailers are expected to capture nearly 40 percent of these savings.
Electronic Payments Coalition (EPC) Executive Chairman Richard Hunt issued a statement on Senator Dick Durbin’s recent legislation targeting American companies and workers who have opposed the Durbin Marshall Credit Card Bill.
The Electronic Payments Coalition (EPC) has issued a response to the recent antitrust suit filed by the U.S. Department of Justice against Visa. The statement, released by EPC Executive Chairman Richard Hunt, criticizes the government's approach towards payment networks.
WASHINGTON, DC—Sen. Roger Marshall (R-Kan.), according to a report in Punchbowl News, recorded an advocacy commercial paid for by the Merchant Payments Coalition, a DC trade group funded by the nation’s largest corporate mega-stores. In the ad, Sen. Marshall repeats the inaccurate claims MPC and other supporters of the Durbin-Marshall Credit Card Bill have made in their lobbying efforts on Capitol Hill.