The Global News Hub for Co-operatives
24 May '13

Content about Merchant services

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Global NewsNCGA Objects to Proposed Settlement "In Re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation"

news body IOWA CITY, IA (February 26, 2013) – Seven and a half years ago on behalf of its retail co-ops, National Cooperative Grocers Association (NCGA) elected to become a plaintiff in a class action suit alleging unfair practices by credit card and debit card issuers, including charging billions in noncompetitive "swipe" or "interchange" fees to retailers across the country. NCGA was joined in this litigation by eighteen other organizations, including five other national trade associations. ...

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Global NewsNCGA and Other Merchants Will Appeal Preliminary Ruling in Proposed Interchange Settlement

news body Washington, DC (Nov. 27, 2012) – Today a majority of named class plaintiffs filed a notice of appeal to challenge a ruling from the U.S. District Court for the Eastern District of New York granting preliminary approval to a proposed settlement of a long-standing antitrust class action filed by merchants against Visa, MasterCard and the largest banks. The merchant group will ask the U.S. Court of Appeals for the Second Circuit to deny preliminary approval due to the legal defects in ...

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Global NewsNCGA Rebukes Visa/MasterCard Class Action Settlement

news body Iowa City, IA (November 1, 2012) – Today, in objections filed with the U.S District Court for the Eastern District of New York, National Cooperative Grocers Association (NCGA), one of 10 named class plaintiffs in long-standing antitrust litigation against Visa, MasterCard and the largest banks, strongly rebuked the proposed interchange settlement and urged Judge John Gleeson to deny its preliminary approval. The 10 named plaintiffs were joined by thousands of U.S. merchants who ...

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Global NewsMajority of Named Plaintiffs Oppose Visa/MasterCard Settlement

news body Washington, DC (October 11, 2012) – Today a majority of the named plaintiffs representing the class of all merchants in the case of “In Re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation” announced their opposition to the proposed antitrust settlement agreement with Visa, MasterCard and some of the nation’s largest banks. The named plaintiffs object to the proposed settlement that is expected to be filed next week, because rather than reforming the ...

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United States'Turn to CU' media blitz continues - CUNA News Now

Momentum is still building as the "turn to a credit union" media blitz continues to spotlight credit unions as alternatives for consumers fed up with big banks' debit card fees. Credit unions found their way into USA Today, U.S. News and World Report and regional media outlets throughout the country on Tuesday.

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