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Durbin interchange battles resurface

CFPB Monitor

The Fed’s final rule implementing the Durbin Amendment (Regulation II) went into effect in October 2011. Regulation II capped the interchange fee received by large issuers (with $10 billion or more in assets) to 21 cents plus 0.05% of the transaction. Proposed Amendment to Regulation II. New Lawsuit.

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Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend

Perficient

Buy now, pay later (BNPL) is a type of point-of-sale installment loan that partners with retailers to allow consumers to pay for their purchases in multiple equal payments. When online shopping, if a retailer has a partnership with a BNPL platform, the customer can choose it as their payment method when placing their order at checkout.

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Georgia’s Push To Reopen Falls Flat As Consumers Stay Home

PYMNTS

began to get its early actual data (as opposed to theoretical predictions) as Alaska, Georgia, North Dakota, South Carolina, Tennessee and Texas and all began lifting some of the stricter parts of the social distancing regulations to allow slightly more social mobility, according to CNN. But starting last weekend, the U.S.

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South Dakota Sues Wayfair, NewEgg, Overstock And Systemax Over Lost eCommerce Revenue

PYMNTS

At issue in the case is the South Dakota law that requires online retailers to collect and remit sales tax, even if they have no physical pronounce in South Dakota (the Supreme Court has previously ruled that merchants have no responsibility to collect sales tax in states where they are not physically located.). North Dakota.

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Vaccine Distribution Hits Snags; CVS And Walgreens Caught In Crossfire

PYMNTS

And this week, it seems, the delays are continuing to compound — and retailers of all kinds are reporting bumps in their distribution processes. Further complicating matters, the distribution of vaccines over the last mile is largely determined and regulated by the state.

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Deep Dive: The Unfolding Legacy Of South Dakota v. Wayfair

PYMNTS

Retail sales taxes have long been key sources of state governments’ budgets and have been their greatest single stream of revenue since the mid-1900s. . Such a levy was not legal until last year’s South Dakota v. Inside South Dakota v. market due to difficulty navigating disparate economic nexus regulations.

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Can South Dakota Move The Needle On A Federal Online Sales Tax?

PYMNTS

This is proving particularly true for more and more cash-strapped states that have spent years staring at soaring traffic for online retailers but little — if any — increases in the taxes reaped from this digital, transcontinental economy. And South Dakota, for one, has had enough. North Dakota.