Trade Groups Ask SCOTUS to Affirm Interchange Settlement Ruling

Retailer Groups Ask Supreme Court to Affirm Rejection of 5-Year-Old Interchange Settlement
– Digital Transactions

Digital Transactions interviewed Manatt’s Anita Boomstein, chair of the firm’s global payments practice, for an article about the National Retail Federation and the Retail Industry Leaders Association’s request that the U.S. Supreme Court let stand an appeals-court ruling that struck down the 2012 interchange settlement.

The trade groups, which for the most part represent large retailers, argue, in part, that the historic settlement’s provision allowing merchants to add surcharges for credit card transactions did little to aid them.

Industry insiders point out that, at least for now, the settlement’s surcharge provision still stands. “Although the settlement has been thrown out by the [appeals] court, the card networks have not revoked the rules that were put into place as a result of the settlement,” said Boomstein. “Thus, at least for now, limited surcharging in accordance with the revised rules is permitted.”

Read the article here



pursuant to New York DR 2-101(f)

© 2024 Manatt, Phelps & Phillips, LLP.

All rights reserved