Vantage Viewpoint

Internet gambling regulations implemented

  • December 02, 2009
The U.S. Department of the Treasury and the Board of Governors of the Federal Reserve System have issued regulations implementing the Unlawful Internet Gambling Enforcement Act requiring U.S. …

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New gift card rules proposed

  • December 02, 2009
The Federal Reserve Board announced proposed rules that would restrict fees and expiration dates on store branded and network-branded gift cards intended to protect consumers.   The …

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Vote to Abolish Check Clearing

  • November 30, 2009
According to an article in Bank Technology News, the United Kingdom may stop clearing checks by 2018.  A number of large retailers in the UK have already stopped taking checks or are phasing …

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MasterCard requires support for Partial Approval, Real-Time Reversal, and Balance Response

  • November 24, 2009
Recently, MasterCard announced rule changes and supporting requirements for acquirers and their merchants in the U.S. region to support partial approvals, authorization reversals, and balance …

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No clear winner in the GAO Interchange report

  • November 21, 2009
As we posted back in May, 2009, GAO to Investigate Merchant Interchange Fees, The United States Government Accountability Office (GAO) released its report titled: Credit Cards, Rising Interchange …

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Interchange Analysis by the GAO

  • November 21, 2009
Visa and MasterCard Interchange rate schedules have become increasing more complex, as hundreds of different Interchange fee rate categories for accepting credit cards now exist.

In 1991, Visa and …

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GAO Interchange Study Option 1: Limiting or Capping Interchange Fees

  • November 21, 2009
Setting or limiting Interchange fees would need to address who would regulate, at what level to cap rates and which payment types would be included in the regulation to name just a few. Beyond these …

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GAO Interchange Study Option 2: Requiring the Disclosure of Interchange Fees

  • November 21, 2009
Requiring Interchange fees to be disclosure to consumers would provide information about payment costs in an effort to influence consumer choice. However, information alone is not likely to have the …

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GAO Interchange Study Option 3: Loosening Restrictions on Merchants for Card Acceptance

  • November 21, 2009
Prohibiting card networks from imposing rules on merchants, such as those that limit merchants’ ability to discriminate among different types of cards or levy a surcharge for credit cards is …

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GAO Interchange Study Option 4: Allowing Merchants and Issuers to Directly Negotiate Interchange Fees

  • November 21, 2009
This option involves granting antitrust waivers to allow merchants and issuers to negotiate Interchange rates. Collective bargaining by commercial groups, such as groups of merchants or businesses, …

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