creditcards

Breaking News: Lawsuit Filed Over Fed’s Swipe Fee Ruling

“The Federal Reserve missed an opportunity to give consumers the relief that they deserve and this needs to be corrected,” says NACS president and CEO Hank Armour. Flawed debit card swipe fee reform regulations issued by the Federal Reserve have allowed big banks to continue charging unjustifiably high swipe fees and discouraged price competition among

Federal Ruling ’Positive Step’ in Swipe Fee Reform

The National Association of Convenience Stores (NACS) called the Dec. 16 release of the Federal Reserve’s proposed rulemaking related to debit card swipe fees a “positive step” and said it will continue to push for the reforms demanded by Congress and consumers alike. While no interchange fees should be allowed on debit transactions, the Fed’s

What’s Next With Swipe Fees?

“Since credit cards were introduced more than 60 years ago, no one dared step in to challenge the powerful banks. We did. And we got change,” said NACS President and CEO Hank Armour in his Opening General Session address on Oct. 6 at the NACS Show. NACS’ “audacious goal” to fight swipe fees, said Armour,

President Signs Swipe Fee Reform Into Law

Interchange relief became a reality today as President Obama signed the financial services reform bill into law. The new law contains Senator Richard Durbin’s swipe fee amendment, which is expected to result in lesser debit card interchange fees and bring critical financial relief to retailers and consumers while promoting greater competition within the credit card

Senate Passes Financial Reform

The convenience and petroleum retailing industry are now celebrating the end of a nearly 10-year battle to rein in interchange fees. Yesterday, July 15, the U.S. Senate voted 60 to 39 in support of the financial reform package known as the Dodd-Frank Bill that contains the crucial interchange amendment, NACS reported. Thursday’s vote was the

Swipe Fee Reform Advances

The U.S. House of Representatives and Senate negotiators have sided with retailers, reaching an agreement to include swipe fee reform provisions in the final financial services reform bill that is now on its way to Congress for a final vote. The provisions, known as the Durbin Amendment after the author, Senator Richard Durbin (D-IL), is

Pennsylvania GetGo Becomes LEED Silver-Certified

Multi-format retailer Giant Eagle, Inc. today announced the receipt of a Leadership in Energy and Environmental Design (LEED) Silver certification for its GetGo convenience store and fuel station located at 140 Towne Center Drive in Wexford, Pa.  “Adding a LEED-certified convenience store and fuel station to our wealth of sustainable business practices underscores Giant Eagle’s

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