John and Glen explore the machinations of the Interchange Fee Prohibition Act, the potential impacts that extend well beyond Illinois, and how it could alter prospects for the Capital One/Discover merger. Also- initial thoughts on the DOJ's antitrust suit against Visa's debit business, and a gratuitous swipe at Ticketmaster.
Links related to this episode:
Glen's blog on the Interchange Fee Prohibition Act: https://www.big-fintech.com/Media?p=a-state-of-confusion-interchange-battles-move-closer-to-home
Our August interview with the Illinois Credit Union League on the topic: https://www.big-fintech.com/Media?p=ill-communication-on-illinois-interchange
The ICUL's press release explaining the recently filed lawsuit: https://www.icul.com/news/icul-news/bank-and-credit-union-groups-join-forces-to-challenge-new-illinois-law-restricting-interchange-fees/
Thoughts on the Capital One/Discover merger from back in February: https://www.big-fintech.com/Media?p=the-capital-onediscover-deal-a-test-of-typical-battle-lines-and-a-credit-union-angle
AP News' reporting on the DOJ's antitrust lawsuit against Visa: https://apnews.com/article/visa-antitrust-justice-department-debit-card-fees
Payments Dive's take on Visa's partner agreements that may have spurred DOJ action: https://www.paymentsdive.com/news/visa-debit-credit-card-network-stymied-fintech-payments-competition/728033/
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