The Electronic Payments Coalition (EPC) has filed an amicus brief with the U.S. District Court of the Northern District of Illinois, supporting a lawsuit initiated by several banking and credit union associations against a new Illinois law that alters credit and debit card processing in the state.
Richard Hunt, Executive Chairman of the Electronic Payments Coalition (EPC), issued a statement following the release of a study by CMSPI on credit card processing costs. The study, funded by large corporate mega-stores, has been labeled as inaccurate by EPC.
The Electronic Payments Coalition (EPC) has released a three-part video series as part of its “Guard Your Card” campaign. The initiative aims to inform Americans about the potential risks associated with the Durbin-Marshall Credit Card Bill. According to EPC, the proposed legislation could eliminate credit card rewards programs, weaken consumer data security, and reduce access to credit for those who need it most.
The Merchants Payments Coalition (MPC) continues to distort the facts as part of its campaign to influence Congress into passing the Durbin-Marshall Credit Card Bill.
Electronic Payments Coalition Executive Chairman Richard Hunt today criticized the Department of Transportation’s review of airline reward programs, calling it "the latest stop on the Durbin-Marshall Retribution Tour." This review, along with one by the Consumer Financial Protection Bureau, was requested last year by Senators Dick Durbin (D-Ill.) and Roger Marshall (R-Kan.). Hunt alleged that the senators are using these reviews to target industries opposed to their proposed legislation, which places new mandates on Americans’ credit cards.
In a court testimony this week, Kroger’s senior director for pricing admitted the grocery conglomerate hiked prices above and beyond inflation for eggs and milk.
A recent report by the Consumer Financial Protection Bureau (CFPB) has highlighted that three large retail conglomerates—Dollar General, Dollar Tree, and Kroger, which operates Family Dollar, Harris Teeter, Ralph’s, and other businesses—have charged consumers over $90 million annually in fees for cash-back from debit or prepaid card purchases. The report emphasized that many of the customers paying these fees belong to "economically vulnerable populations."
The Merchants Payments Coalition (MPC) continues its campaign to persuade Congress to pass the Durbin-Marshall Credit Card Bill, which is seen as primarily benefiting large corporate retailers. Recently, MPC has made claims about interchange fees that they acknowledge are "difficult to calculate." In a Twitter post, MPC suggested that credit cards are increasing the cost of back-to-school supplies.
The National Retail Federation (NRF) was in Washington, D.C. this week to discuss the Durbin-Marshall Credit Card Bill with Members of Congress and their staff. This legislation aims to introduce new mandates on how Americans' credit cards are processed, potentially affecting fraud protection and reward programs that small business owners rely on.
The Electronic Payments Coalition (EPC) has launched a national advocacy campaign titled "Guard Your Card" to inform Americans about the potential risks associated with new government mandates proposed in the Durbin-Marshall Credit Card Bill. According to the EPC, these mandates could undermine the secure and convenient credit card payment networks that consumers and small businesses rely on daily.
The average cost of cash acceptance at bars and restaurants has surpassed 15%, according to a recent report by the Small Business & Entrepreneurship Council (SBE Council). The report highlights that card and electronic payment options offer significant savings for many businesses, along with convenience and safety for consumers.
Electronic Payments Coalition (EPC) Executive Chairman Richard Hunt issued a statement following the release of an opinion regarding the $30 billion settlement reached by Visa, Mastercard, and merchants. The settlement, which benefits primarily small businesses, has faced opposition from larger corporate retailers.
The executive chairman of the Electronic Payments Coalition (EPC) said that a new Consumer Financial Protection Bureau (CFPB) report showing problems with credit card rewards programs is “laughable.”
The Consumer Financial Protection Bureau (CFPB) recently issued a report coinciding with a joint hearing with the Department of Transportation. The report aims to highlight perceived issues with airline and credit card rewards programs. However, Richard Hunt, Executive Chairman of the Electronic Payments Coalition, argues that these problems are nonexistent.
Newly proposed legislation in the Pennsylvania House of Representatives aims to prohibit financial institutions from collecting fees on the sales tax portion of credit and debit card transactions. Critics, including banks and electronic payment companies, argue that it would increase burdens on small businesses without guaranteeing consumer savings. Proponents, led by retailers and merchants, contend that it restores fairness to the state’s tax system and alleviates financial strain on small businesses.
The Electronic Payments Coalition (EPC) has urged the Pennsylvania legislature to reject a bill (H.B. 2394) passed by the House Finance Committee, which aims to change how credit and debit card transactions are processed in the state. The proposed legislation seeks to exempt interchange fees on the sales tax portion of transactions. Interchange fees are paid for transmitting payments over card payment networks.
The Electronic Payments Coalition (EPC) has raised concerns about newly introduced legislation in the Pennsylvania House of Representatives, warning that it could make the state an outlier in its treatment of electronic payments. The measure, H.B. 2394, aims to prohibit financial institutions from collecting interchange fees on the sales tax portion of credit and debit card transactions. Interchange fees are the costs merchants pay for transmitting payments electronically.
Lawmakers and industry stakeholders have voiced varied opinions regarding the Durbin-Marshall Credit Card Bill, which seeks to reform the credit card industry.