Pendum
Nautilus Hyosung

  • Merchants file appeal to interchange settlement

Merchants have filed an appeal with the U.S. District Court for the Eastern District of New York over the proposed settlement in their fight with card brands and major credit card issuers over credit card interchange. The agreement, however, hasn't been finalized, according to cutimes.com.

The U.S. Court of Appeals for the Second Circuit will hear the appeal which states that the settlement does not address what merchants viewed as the problem with the interchange system.

From the story:

"This settlement has fatal legal defects and should not get preliminary approval. We look forward to presenting the problems we see in this proposal to the Second Circuit Court of Appeals," said Jeffrey Shinder, managing partner, Constantine Cannon LLC, counsel to the merchants objecting to the proposed settlement.

Read more about regulatory issues.

Related Content

User Comments – Give us your opinion!
Products & Services

Regulation and Compliance

http://global.networldalliance.com/new/images/products/6903.png

6903/Regulation-and-Compliance

New Economical, Attractive 5800 ATM Enclosure Series

http://global.networldalliance.com/new/images/products/657.png

657/New-Economical-Attractive-5800-ATM-Enclosure-Series

First Line Maintenance

http://global.networldalliance.com/new/images/products/ATMSolutions_repairman.gif

540/First-Line-Maintenance

KAL EMV Compliance Solutions

http://global.networldalliance.com/new/images/products/KAL_Logo_SF100.gif

786/KAL-EMV-Compliance-Solutions

Wooden ATM Cabinets

http://global.networldalliance.com/new/images/products/4292.png

4292/Wooden-ATM-Cabinets

Second Line Maintenance

http://global.networldalliance.com/new/images/products/ATMSolutions_repairman.gif

543/Second-Line-Maintenance

NCR Cash Dispense ATMs

http://global.networldalliance.com/new/images/products/5005.png

5005/NCR-Cash-Dispense-ATMs

OptConnect Wireless Modem for IP-only ATMs (The OC-250)

http://global.networldalliance.com/new/images/products/4098.png

4098/OptConnect-Wireless-Modem-for-IP-only-ATMs-The-OC-250

PC/E Suite

http://global.networldalliance.com/new/images/products/5791.png

5791/PC-E-Suite

FeeAlert

http://global.networldalliance.com/new/images/products/6319.png

6319/FeeAlert

ATM & Mobile Innovation Summit
Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.