Retailers Have Reason to Celebrate Swipe Fee Anniversary
It has been exactly one year since the debit card swipe fee regulations reduced the interchange fee that merchants paid to banks and card processors. Retailers and merchants appear to be the big...
View ArticleDebit Card Swipe Fees Have Dropped Dramatically
The Federal Reserve has issued a report on the effect on the Durbin Amendment which shows a drastic reduction has taken place in debit card interchange fees. As a result, the Federal Reserve does not...
View ArticleLowCards.com Weekly Credit Card Update–March 8, 2013
Young Adults Retreat From Piling Up Debt Total debt among young adults dropped in the last decade to the lowest level in 15 years. A typical young U.S. household, defined as one led by someone under...
View ArticleRetailers Big Winners in Court’s Swipe Fee Ruling
A federal judge today ruled against a 2011 Federal Reserve rule on fees charged for debit-card transactions. The judge sided with retailers' arguments that the Fed was too lenient on banks when it...
View ArticleDid the Durbin Amendment Make a Difference?
The Durbin Amendment contained a provision that limited the interchange fees merchants paid for debit card transactions. The thought was that retailers would lower their prices if these high swipe fees...
View ArticleLowCards.com Weekly Credit Card Update–October 17, 2014
Kmart Says its Store Registers Were Hacked, Exposing Credit Cards For about a month, Kmart says, its stores' checkout registers were "compromised by malicious software that stole customer credit and...
View ArticleEuropean Parliament Votes to Cap Credit Card Processing Fees
On Tuesday, the European Parliament voted in favor of a new bill that caps the processing fees retailers pay on debit and credit card transactions. The bill received overwhelming support, passing with...
View ArticleMerchants Still Not Saving after Durbin Amendment
Nearly four years after the Durbin Amendment to the Dodd-Frank Act went into effect, the Federal Reserve Bank of Richmond has released a study assessing the impact the changes have had on merchants....
View ArticleLowCards.com Weekly Credit Card Update–August 28, 2015
Banks Offering Mobile Banking But Consumers Slow to Adapt Financial institutions are offering mobile banking faster than consumers are adapting to it, according to a recently published survey from the...
View ArticleFederal Reserve Claims Debit Card Reform Benefited Small Banks
According to a new report from the Philadelphia Federal Reserve, small banks have seen positive effects from the Dodd-Frank financial reform bill, despite previous concerns they would be hurt by the...
View ArticleRetailers Ask Federal Reserve to Again Lower Debit Card Swipe Fees
It has been five years since the Federal Reserve lowered the cap on the debit card swipe fees that merchants have to pay to card issuers. Now, the National Retail Federation is requesting another drop...
View ArticleLowCards.com Weekly Credit Card Update–August 19, 2016
Major Hotel Chains Hacked, Credit Card Details Stolen If you stayed at a major hotel chain in recent months, you might want to check your credit card statement. HEI Hotels & Resorts, which operates...
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