Businesses Challenge NY's Ban On Swipe Fee Surcharges

Law360, New York (June 4, 2013, 4:23 PM EDT) -- A group of New York businesses on Tuesday sued to overturn a state law barring them from imposing a surcharge for credit card transactions while allowing discounts for cash payments, saying the law hurts consumers by hiding the real costs of credit card payments.

Credit card companies charge retailers a so-called swipe fee for every credit card transaction they process. Typically, those fees are passed along to consumers. New York State law bars retailers from passing along those fees to consumers in the form of surcharges,...
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