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NRF: ‘Extremely disappointed’ in swipe-fee regulations set
Washington, D.C. -- The National Retail Federation said Thursday that it is disappointed in the final debit card swipe-fee regulations set by the Federal Reserve.
Under the new rule, the current debit card swipe-fee rate of 1%-2% of each transaction will be replaced with a flat fee of not more than 21 cents per transaction for the nation’s largest banks -- substantially higher than the flat fee of up to 12 cents the Fed originally proposed in December 2010.
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Lucernex, NRTA survey: Retailers not yet acting on FASB changes
Dallas -- A survey released by Lucernex Technologies that polled the National Retail Tenants Association members about preparedness for the upcoming FASB changes found that, for the most part, retailers are generally not ready for the new rules to take effect.
In the NRTA membership survey “FASB Preparedness in the Retail Industry,” five key findings were revealed: