3 ms·
Unregulated?! IMO they are heavily regulated. I can understand believing that they are under regulated, but they are hardly unregulated. E.g. https://www.fdic
by hirundo 6y ago
Unregulated?! IMO they are heavily regulated. I can understand believing that they are under regulated, but they are hardly unregulated.
E.g.
https://www.fdic.gov/regulations/laws/rules/6500-2260.html https://www.fdic.gov/regulations/laws/rules/6500-2260.html
https://www.creditcards.com/credit-card-news/help/card-act-12-consumer-protections-6000/ https://www.creditcards.com/credit-card-news/help/card-act-1...
https://blog.payjunction.com/credit-card-processing-regulators https://blog.payjunction.com/credit-card-processing-regulato...
- tempsy 6y agoevery industry is regulated to a certain degree, but categorizing an industry as a utility is a step change difference. in the US we do not regulate interchange fees except via Durbin Amendment (only passed 10 years ago) which regulates debit interchange for large banks only. this is totally different from Europe where interchange is heavily regulated.