The US Department of Justice and seven states filed an antitrust lawsuit against American Express, Mastercard, and Visa, alleging that their merchant restraints violated antitrust law. The complaint argued that credit card networks have substantial market power over merchants in the general purpose card network services market. Mastercard and Visa settled, agreeing to allow merchants to steer customers to less expensive payment methods. American Express did not settle and argued at trial that the plaintiffs failed to prove their claims. Ultimately, the court found the conduct violated antitrust law but encouraged the parties to settle on remedies.
Here are the key points from the attorneys' discussion:
- Biscotti owns a patent covering video-calling solutions that it alleges Microsoft's Xbox One infringes.
- Microsoft filed multiple petitions for inter partes review with the Patent Trial and Appeal Board seeking to invalidate many of Biscotti's patent claims.
- The PTAB has now ruled in three separate decisions that Microsoft failed to prove any of Biscotti's patent claims were invalid. This is significant because the statistics show that in the vast majority of IPR cases, some patent claims are invalidated.
- By losing the IPR proceedings, Microsoft is now precluded from raising invalidity arguments in the district court case that it raised or could have
The document summarizes recent developments in criminal antitrust enforcement. It discusses fines and sentencing for price fixing in various industries such as electronic books, health care, freight forwarding, and LCD panels. Regulators have increased litigation efforts and obtained convictions and sizable fines in recent cases, showing a stronger commitment to deterring anticompetitive conduct through criminal prosecution.
Trial Strategy: When Will a U.S. Court Assert Jurisdiction Over a Foreign In...NationalUnderwriter
The globalization of commerce is leading to more and more situations where a U.S. company is insured by an overseas insurance carrier. What does it take for a policyholder to be able to sue a foreign insurer in a U.S. court? A recent decision by a federal district court in Washington illustrates the analysis that courts undertake to determine whether a foreign carrier is subject to their jurisdiction.
In late September, the Federal Trade Commission announced what is likely the most substantial auto dealer enforcement action in the agency’s history. While most of the FTC’s earlier cases have focused solely on dealer advertising, this action against 9 California dealerships alleges over a dozen different types of violations. And unlike previous cases where there were no initial monetary penalties, this time it looks like they’re seeking massive financial consequences for the dealers involved.
In this informative presentation we’ll examine each of the FTC’s latest claims in detail and discuss best practices on how your dealership can avoid being targeted by federal and state regulators. The game is changing and it pays to be prepared.
Preparing for Canadian Anti-Spam LegislationMarketo
The presentation is about preparing for the upcoming Canadian Anti-Spam Legislation. Learn what CASL is, the timing of it’s implementation and how it will apply to commercial email. We will review specific case studies to better define consent requirements and exceptions to those requirements.
What Obama’s Credit Card Reform Means For YouCreditCardXPO
President Obama’s credit card reform directly changes legislation to make the credit card market a safer place for consumers to tread by instituting several key changes. View our slideshare to see a complete breakdown.
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Here are the key points from the attorneys' discussion:
- Biscotti owns a patent covering video-calling solutions that it alleges Microsoft's Xbox One infringes.
- Microsoft filed multiple petitions for inter partes review with the Patent Trial and Appeal Board seeking to invalidate many of Biscotti's patent claims.
- The PTAB has now ruled in three separate decisions that Microsoft failed to prove any of Biscotti's patent claims were invalid. This is significant because the statistics show that in the vast majority of IPR cases, some patent claims are invalidated.
- By losing the IPR proceedings, Microsoft is now precluded from raising invalidity arguments in the district court case that it raised or could have
The document summarizes recent developments in criminal antitrust enforcement. It discusses fines and sentencing for price fixing in various industries such as electronic books, health care, freight forwarding, and LCD panels. Regulators have increased litigation efforts and obtained convictions and sizable fines in recent cases, showing a stronger commitment to deterring anticompetitive conduct through criminal prosecution.
Trial Strategy: When Will a U.S. Court Assert Jurisdiction Over a Foreign In...NationalUnderwriter
The globalization of commerce is leading to more and more situations where a U.S. company is insured by an overseas insurance carrier. What does it take for a policyholder to be able to sue a foreign insurer in a U.S. court? A recent decision by a federal district court in Washington illustrates the analysis that courts undertake to determine whether a foreign carrier is subject to their jurisdiction.
In late September, the Federal Trade Commission announced what is likely the most substantial auto dealer enforcement action in the agency’s history. While most of the FTC’s earlier cases have focused solely on dealer advertising, this action against 9 California dealerships alleges over a dozen different types of violations. And unlike previous cases where there were no initial monetary penalties, this time it looks like they’re seeking massive financial consequences for the dealers involved.
In this informative presentation we’ll examine each of the FTC’s latest claims in detail and discuss best practices on how your dealership can avoid being targeted by federal and state regulators. The game is changing and it pays to be prepared.
Preparing for Canadian Anti-Spam LegislationMarketo
The presentation is about preparing for the upcoming Canadian Anti-Spam Legislation. Learn what CASL is, the timing of it’s implementation and how it will apply to commercial email. We will review specific case studies to better define consent requirements and exceptions to those requirements.
What Obama’s Credit Card Reform Means For YouCreditCardXPO
President Obama’s credit card reform directly changes legislation to make the credit card market a safer place for consumers to tread by instituting several key changes. View our slideshare to see a complete breakdown.
eth 321,uop eth 321 new,uop eth 321 new complete course,uop eth 321 new entire course,uop eth 321 new week 1,uop eth 321 new week2,uop eth 321 new week 3,uop eth 321 new week 4,uop eth 321 new week 5, uop eth 321 new week 6,uop eth 321 new tutorials,uop eth 321 new assignments,eth 321 help
This presentation is from Affiliate Summit East 2015 (August 2-4, 2015 in New York, NY). Session description: This session will provide a blueprint for activating a community of brand evangelists by leveraging best practices to reach members of large-scale affinity groups to driving customer acquisition.
Connecticut Automotive Retailers Webinar November 8th, 2016
In late September, the Federal Trade Commission announced what is likely the most substantial auto dealer enforcement action in the agency’s history. While most of the FTC’s earlier cases have focused solely on dealer advertising, this action alleges over a dozen different types of violations. And unlike previous cases where there were no initial monetary penalties, this time it looks like they’re seeking massive financial consequences for the dealers involved.
In this informative presentation we’ll examine each of the FTC’s latest claims in detail and discuss best practices on how your dealership can avoid being targeted by federal and state regulators. The game is changing and it pays to be prepared.
The presentation is about preparing for the upcoming Canadian Anti-Spam Legislation. Learn what CASL is, the timing of it’s implementation and how it will apply to commercial email. We will review specific case studies to better define consent requirements and exceptions to those requirements.
The document is a study guide for ETH 321's final exam that provides 30 multiple choice questions and answers about business law topics like contracts, intellectual property, antitrust law, and alternative dispute resolution. It covers concepts such as the roles of the grand jury and Securities and Exchange Commission, examples of bilateral contracts, and exceptions to antitrust laws like the Noerr-Pennington doctrine. The guide is intended to help students prepare for assessments on legal issues commonly found in business and commerce.
ARTICLE_ Multifactors_ Multiconfusion_ Refining _Likeli.PDFChristina P. Mott
This document summarizes an article that examines how courts analyze "reverse confusion" trademark infringement claims, where a larger junior user uses a trademark in a way that causes consumers to believe the senior user's goods are from the junior user. It discusses how circuit courts have developed multifactor tests to analyze the "likelihood of confusion" in typical forward confusion cases, but approaches differ for reverse confusion cases. The article advocates modifying or eliminating certain factors in existing tests that are less relevant for reverse confusion analysis, to achieve more consistent and predictable results across circuits.
The CFPB released an updated version of its Supervision and Examination Manual to reflect changes made to consumer financial regulations and examination procedures. The manual provides guidance for examiners in overseeing companies' compliance with consumer protection laws. Key changes included renumbering regulations to incorporate the CFPB's rulemaking responsibilities as well as updates to procedures for laws on mortgages, credit cards, credit reports, and other topics. The CFPB will use the manual to focus on risks to consumers, apply consistent standards across different types of financial institutions, and coordinate oversight with other regulators.
Merchants Beware: Federal Law Prohibits Printing Any Portion of Expiration Da...Patton Boggs LLP
The U.S. Court of Appeals for the Third Circuit recently held that printing any portion of a credit or debit card's expiration date on an electronically printed receipt, even just the month, violates the Fair and Accurate Credit Transactions Act (FACTA). While the defendant in this case was not found to have willfully violated the statute and avoided penalties, merchants who make similar mistakes going forward may face statutory damages, punitive damages, and attorneys' fees if sued. All businesses that accept credit or debit cards should ensure their policies comply fully with FACTA by not printing any part of the expiration date on receipts.
Announcing the TSW Analytical Investigations Unit Dom Blackshaw
TSW Analytical introduces their new Investigation Unit, which provides investigation services supported by their in-house forensic science, digital forensics, and food fraud analysis teams. The Investigation Unit is led by an experienced investigator and certified fraud examiner. They offer traditional investigation services as well as specialized techniques like TSW TraceTM, which uses scientific analysis to determine the provenance or origin of samples. Clients can access these services by contacting the principal of the Investigation Unit.
This document provides an HR policy guide for Elite Sporting Camp, including job descriptions, hiring criteria, recruitment sources, selection techniques, interview guides, and other HR policies. Elite Sporting Camp is a privately owned organization that operates sports camps for children throughout the US and internationally. The guide describes policies for key positions like Chief Executive of Operations, Financial Analyst, and Marketing Manager. It outlines qualifications, interview questions, and hiring processes to attract and select the best talent to deliver a quality experience for campers.
The radio communication technology advances from World War II enabled the exploration of space. Onboard the lunar modules, complex transmission and reception equipment allowed for voice and data communications in a compact system using very high frequencies. The system could simultaneously transmit voice signals and determine distances between vehicles by measuring the time between signal transmission and reception. Voice signals from astronauts were also broadcast worldwide through communications networks, with cellular radio systems serving as a miniature version of larger networks.
Benefits and Challenges of OER Brett Strakabstraka
This document discusses the benefits and challenges of using Open Educational Resources. The benefits include reducing student costs, increasing access to materials, easily sharing knowledge, customizing formats, and fostering creativity and collaboration. The challenges are limited access without proper technology, the time needed to find quality resources, requiring digital literacy to use resources, needing sustainable funding for access, and content that may not last over time.
Este documento describe las asíntotas de una función. Las asíntotas son rectas a las que la función se aproxima indefinidamente cuando una de sus variables tiende al infinito. Existen tres tipos de asíntotas: horizontales, cuando la variable independiente tiende al infinito; verticales, cuando el límite de la función es un número real; y oblicuas, cuando la distancia entre la recta y el punto tiende a cero. El documento incluye ejemplos para ilustrar cada tipo de asíntota.
This document describes a 4-6 month accelerator program for early stage startups focused on cloud, internet, and mobile technologies. The program provides mentoring, office space, resources, and networking opportunities to help startups launch and build scalable businesses. Eligible startups should have a strong founding team and be developing applications that leverage the cloud to solve problems and create innovations. The schedule includes weekly mentorship, educational sessions, and events to help startups progress their products and pitch to investors at a finale demo day.
This letter from Advance Auto Parts thanks Richard Fraley for his leadership at store 8380 that led to the store achieving a customer traction score of 155, representing the best levels in the region and company. The letter acknowledges that such an accomplishment takes effort from the entire team. It includes an enclosed certificate to display in the store to recognize this achievement. On behalf of Region 37 and Advance Auto Parts, the letter expresses gratitude for all Richard and the team do.
"Exploradores de RECETAS" Escuela Especial N°137Ana Castillo
El documento describe un taller de tecnología alimentaria sobre recetas de trufas. Los objetivos del taller son buscar diferentes recetas usando computadoras XO, elaborar productos, y crear videos tutoriales. Las actividades incluyen buscar recetas en la web, seleccionar ingredientes, trabajar en la estructura de las recetas, elaborar las trufas, presentarlas, y degustarlas.
Krishtee Singh Parihar is seeking a position as a quality assurance professional with over 3 years of experience in development quality assurance. She currently works as an Officer of Development Quality Assurance at Plethico Pharmaceuticals Ltd. in Indore, MP, where she is responsible for reviewing documents, monitoring GMP compliance, and coordinating audits. Previously she worked as an Assistant Chemist - Quality Assurance at IPCA Laboratories Limited, where she reviewed batch production and control records. She holds an M.Pharm. in Pharmaceutics from Shri Satya Sai College of Pharmacy and a B.Pharm. from Pt. Ravishankar Shukla University.
This document provides information on different types of characters in literature. It discusses protagonists such as heroes, anti-heroes, tragic heroes, and caricatures. It also covers antagonists including the main antagonist, nemesis, shape-shifter, change agent, and romantic angle. Supporting character types are examined like the sidekick, mentor, foil, comic relief, extras, and chorus. Character development types of flat and round characters are defined. The document serves as source material for a learning exercise on literary characters.
New Kmart Data Breach lawsuit spotlights PCI DSSDavid Sweigert
This document is a class action complaint filed against Kmart Corporation and Sears Holdings Corporation regarding a data breach at Kmart stores from early September 2014 through October 2014. It alleges that the defendants failed to adequately protect customer payment card data, allowing hackers to access hundreds of thousands of customer accounts. This forced financial institutions, like the plaintiff Greater Chautauqua Federal Credit Union, to incur costs from reissuing cards, reimbursing customers for fraudulent charges, and responding to customers concerns about the breach. The complaint asserts claims of negligence, violations of consumer protection laws, and seeks damages on behalf of the plaintiff and other similarly situated financial institutions.
Managerial Economics and Business Strategy, 6e Page 1 Visa.docxinfantsuk
Managerial Economics and Business Strategy, 6e Page 1
Visa and MasterCard’s Association Potentially
Anticompetitive
Michael Baye and Patrick Scholten prepared this case to serve as the basis for classroom
discussion rather than to represent economic or legal fact. The case is a condensed and slightly
modified version of the public copy of the Complaint filed in United States of America v. Visa U.S.A.,
Inc. et al. dated October 7, 1998. No. 98-civ.7076.
OVERVIEW OF MARKET FOR GENERAL PURPOSE CARD SERVICES
Visa and MasterCard compete in the market for general purpose card network
products and services. General purpose cards, which include credit cards and charge cards,
are payment devices that enable consumers to make purchases from unrelated merchants
without immediately accessing or reserving funds. Visa and MasterCard are the two largest
general purpose card networks. Together, they account for over 75% of all purchases made
with general purpose cards in the United States.
Visa and MasterCard are joint ventures — or, as they call themselves, “associations”
— created, owned, governed, and operated by and in the interests of their member banks.
These banks use the associations’ products and services either to issue cards to consumers,
provide card acceptance services to merchants, or both.
The same large banks control both associations by simultaneously serving on the
board of directors of one and on important committees of the other. In addition, each of
these banks issues significant numbers of both Visa and MasterCard cards. The control of
the two associations by banks that have significant interests in both — known in the industry
as “duality” — has possibly substantially lessened competition between Visa and MasterCard
because these banks seem to have been, and continue to seem to seem to be, significantly less
willing to fund and implement competitive initiatives that would cause consumers to switch
their business from one association to the other.
In addition, both Visa and MasterCard — on behalf of and in collaboration with the
banks that govern them — have adopted rules and policies that might restrict the ability of all
member banks to do business with American Express, Discover/Novus, or any other network
that the controlling banks deem to be “competitive.” Importantly, Visa and MasterCard do
not apply these rules to one another. Banks can therefore do business with the two largest
general purpose card networks, but not with smaller competitor networks. These
exclusionary rules and policies might eliminate certain forms of competition among the Visa
and MasterCard member banks, and might have effectively precluded American Express and
Discover/Novus from competing to enlist banks in the U.S. to issue their cards.
Through their common control of both Visa and MasterCard, the largest banks might
have stifled competition between these two networks and might have thwart ...
This presentation is from Affiliate Summit East 2015 (August 2-4, 2015 in New York, NY). Session description: This session will provide a blueprint for activating a community of brand evangelists by leveraging best practices to reach members of large-scale affinity groups to driving customer acquisition.
Connecticut Automotive Retailers Webinar November 8th, 2016
In late September, the Federal Trade Commission announced what is likely the most substantial auto dealer enforcement action in the agency’s history. While most of the FTC’s earlier cases have focused solely on dealer advertising, this action alleges over a dozen different types of violations. And unlike previous cases where there were no initial monetary penalties, this time it looks like they’re seeking massive financial consequences for the dealers involved.
In this informative presentation we’ll examine each of the FTC’s latest claims in detail and discuss best practices on how your dealership can avoid being targeted by federal and state regulators. The game is changing and it pays to be prepared.
The presentation is about preparing for the upcoming Canadian Anti-Spam Legislation. Learn what CASL is, the timing of it’s implementation and how it will apply to commercial email. We will review specific case studies to better define consent requirements and exceptions to those requirements.
The document is a study guide for ETH 321's final exam that provides 30 multiple choice questions and answers about business law topics like contracts, intellectual property, antitrust law, and alternative dispute resolution. It covers concepts such as the roles of the grand jury and Securities and Exchange Commission, examples of bilateral contracts, and exceptions to antitrust laws like the Noerr-Pennington doctrine. The guide is intended to help students prepare for assessments on legal issues commonly found in business and commerce.
ARTICLE_ Multifactors_ Multiconfusion_ Refining _Likeli.PDFChristina P. Mott
This document summarizes an article that examines how courts analyze "reverse confusion" trademark infringement claims, where a larger junior user uses a trademark in a way that causes consumers to believe the senior user's goods are from the junior user. It discusses how circuit courts have developed multifactor tests to analyze the "likelihood of confusion" in typical forward confusion cases, but approaches differ for reverse confusion cases. The article advocates modifying or eliminating certain factors in existing tests that are less relevant for reverse confusion analysis, to achieve more consistent and predictable results across circuits.
The CFPB released an updated version of its Supervision and Examination Manual to reflect changes made to consumer financial regulations and examination procedures. The manual provides guidance for examiners in overseeing companies' compliance with consumer protection laws. Key changes included renumbering regulations to incorporate the CFPB's rulemaking responsibilities as well as updates to procedures for laws on mortgages, credit cards, credit reports, and other topics. The CFPB will use the manual to focus on risks to consumers, apply consistent standards across different types of financial institutions, and coordinate oversight with other regulators.
Merchants Beware: Federal Law Prohibits Printing Any Portion of Expiration Da...Patton Boggs LLP
The U.S. Court of Appeals for the Third Circuit recently held that printing any portion of a credit or debit card's expiration date on an electronically printed receipt, even just the month, violates the Fair and Accurate Credit Transactions Act (FACTA). While the defendant in this case was not found to have willfully violated the statute and avoided penalties, merchants who make similar mistakes going forward may face statutory damages, punitive damages, and attorneys' fees if sued. All businesses that accept credit or debit cards should ensure their policies comply fully with FACTA by not printing any part of the expiration date on receipts.
Announcing the TSW Analytical Investigations Unit Dom Blackshaw
TSW Analytical introduces their new Investigation Unit, which provides investigation services supported by their in-house forensic science, digital forensics, and food fraud analysis teams. The Investigation Unit is led by an experienced investigator and certified fraud examiner. They offer traditional investigation services as well as specialized techniques like TSW TraceTM, which uses scientific analysis to determine the provenance or origin of samples. Clients can access these services by contacting the principal of the Investigation Unit.
This document provides an HR policy guide for Elite Sporting Camp, including job descriptions, hiring criteria, recruitment sources, selection techniques, interview guides, and other HR policies. Elite Sporting Camp is a privately owned organization that operates sports camps for children throughout the US and internationally. The guide describes policies for key positions like Chief Executive of Operations, Financial Analyst, and Marketing Manager. It outlines qualifications, interview questions, and hiring processes to attract and select the best talent to deliver a quality experience for campers.
The radio communication technology advances from World War II enabled the exploration of space. Onboard the lunar modules, complex transmission and reception equipment allowed for voice and data communications in a compact system using very high frequencies. The system could simultaneously transmit voice signals and determine distances between vehicles by measuring the time between signal transmission and reception. Voice signals from astronauts were also broadcast worldwide through communications networks, with cellular radio systems serving as a miniature version of larger networks.
Benefits and Challenges of OER Brett Strakabstraka
This document discusses the benefits and challenges of using Open Educational Resources. The benefits include reducing student costs, increasing access to materials, easily sharing knowledge, customizing formats, and fostering creativity and collaboration. The challenges are limited access without proper technology, the time needed to find quality resources, requiring digital literacy to use resources, needing sustainable funding for access, and content that may not last over time.
Este documento describe las asíntotas de una función. Las asíntotas son rectas a las que la función se aproxima indefinidamente cuando una de sus variables tiende al infinito. Existen tres tipos de asíntotas: horizontales, cuando la variable independiente tiende al infinito; verticales, cuando el límite de la función es un número real; y oblicuas, cuando la distancia entre la recta y el punto tiende a cero. El documento incluye ejemplos para ilustrar cada tipo de asíntota.
This document describes a 4-6 month accelerator program for early stage startups focused on cloud, internet, and mobile technologies. The program provides mentoring, office space, resources, and networking opportunities to help startups launch and build scalable businesses. Eligible startups should have a strong founding team and be developing applications that leverage the cloud to solve problems and create innovations. The schedule includes weekly mentorship, educational sessions, and events to help startups progress their products and pitch to investors at a finale demo day.
This letter from Advance Auto Parts thanks Richard Fraley for his leadership at store 8380 that led to the store achieving a customer traction score of 155, representing the best levels in the region and company. The letter acknowledges that such an accomplishment takes effort from the entire team. It includes an enclosed certificate to display in the store to recognize this achievement. On behalf of Region 37 and Advance Auto Parts, the letter expresses gratitude for all Richard and the team do.
"Exploradores de RECETAS" Escuela Especial N°137Ana Castillo
El documento describe un taller de tecnología alimentaria sobre recetas de trufas. Los objetivos del taller son buscar diferentes recetas usando computadoras XO, elaborar productos, y crear videos tutoriales. Las actividades incluyen buscar recetas en la web, seleccionar ingredientes, trabajar en la estructura de las recetas, elaborar las trufas, presentarlas, y degustarlas.
Krishtee Singh Parihar is seeking a position as a quality assurance professional with over 3 years of experience in development quality assurance. She currently works as an Officer of Development Quality Assurance at Plethico Pharmaceuticals Ltd. in Indore, MP, where she is responsible for reviewing documents, monitoring GMP compliance, and coordinating audits. Previously she worked as an Assistant Chemist - Quality Assurance at IPCA Laboratories Limited, where she reviewed batch production and control records. She holds an M.Pharm. in Pharmaceutics from Shri Satya Sai College of Pharmacy and a B.Pharm. from Pt. Ravishankar Shukla University.
This document provides information on different types of characters in literature. It discusses protagonists such as heroes, anti-heroes, tragic heroes, and caricatures. It also covers antagonists including the main antagonist, nemesis, shape-shifter, change agent, and romantic angle. Supporting character types are examined like the sidekick, mentor, foil, comic relief, extras, and chorus. Character development types of flat and round characters are defined. The document serves as source material for a learning exercise on literary characters.
New Kmart Data Breach lawsuit spotlights PCI DSSDavid Sweigert
This document is a class action complaint filed against Kmart Corporation and Sears Holdings Corporation regarding a data breach at Kmart stores from early September 2014 through October 2014. It alleges that the defendants failed to adequately protect customer payment card data, allowing hackers to access hundreds of thousands of customer accounts. This forced financial institutions, like the plaintiff Greater Chautauqua Federal Credit Union, to incur costs from reissuing cards, reimbursing customers for fraudulent charges, and responding to customers concerns about the breach. The complaint asserts claims of negligence, violations of consumer protection laws, and seeks damages on behalf of the plaintiff and other similarly situated financial institutions.
Managerial Economics and Business Strategy, 6e Page 1 Visa.docxinfantsuk
Managerial Economics and Business Strategy, 6e Page 1
Visa and MasterCard’s Association Potentially
Anticompetitive
Michael Baye and Patrick Scholten prepared this case to serve as the basis for classroom
discussion rather than to represent economic or legal fact. The case is a condensed and slightly
modified version of the public copy of the Complaint filed in United States of America v. Visa U.S.A.,
Inc. et al. dated October 7, 1998. No. 98-civ.7076.
OVERVIEW OF MARKET FOR GENERAL PURPOSE CARD SERVICES
Visa and MasterCard compete in the market for general purpose card network
products and services. General purpose cards, which include credit cards and charge cards,
are payment devices that enable consumers to make purchases from unrelated merchants
without immediately accessing or reserving funds. Visa and MasterCard are the two largest
general purpose card networks. Together, they account for over 75% of all purchases made
with general purpose cards in the United States.
Visa and MasterCard are joint ventures — or, as they call themselves, “associations”
— created, owned, governed, and operated by and in the interests of their member banks.
These banks use the associations’ products and services either to issue cards to consumers,
provide card acceptance services to merchants, or both.
The same large banks control both associations by simultaneously serving on the
board of directors of one and on important committees of the other. In addition, each of
these banks issues significant numbers of both Visa and MasterCard cards. The control of
the two associations by banks that have significant interests in both — known in the industry
as “duality” — has possibly substantially lessened competition between Visa and MasterCard
because these banks seem to have been, and continue to seem to seem to be, significantly less
willing to fund and implement competitive initiatives that would cause consumers to switch
their business from one association to the other.
In addition, both Visa and MasterCard — on behalf of and in collaboration with the
banks that govern them — have adopted rules and policies that might restrict the ability of all
member banks to do business with American Express, Discover/Novus, or any other network
that the controlling banks deem to be “competitive.” Importantly, Visa and MasterCard do
not apply these rules to one another. Banks can therefore do business with the two largest
general purpose card networks, but not with smaller competitor networks. These
exclusionary rules and policies might eliminate certain forms of competition among the Visa
and MasterCard member banks, and might have effectively precluded American Express and
Discover/Novus from competing to enlist banks in the U.S. to issue their cards.
Through their common control of both Visa and MasterCard, the largest banks might
have stifled competition between these two networks and might have thwart ...
The document summarizes major US consumer protection laws. It discusses laws that protect consumers from deceptive advertising and sales practices, such as the Federal Trade Commission Act which created the FTC. Credit protection laws are also summarized, including the Truth in Lending Act, Fair Credit Reporting Act, and Fair Debt Collection Practices Act. Consumer health and safety laws like the Federal Food, Drug, and Cosmetic Act and Consumer Product Safety Act are covered. State consumer protection laws provide additional safeguards.
The Federal Trade Commission (FTC or Commission) is an independent U.S. law enforcement agency charged with protecting consumers and enhancing competition across broad sectors of the economy. The FTC’s primary legal authority comes from Section 5 of the Federal Trade Commission Act, which prohibits unfair or deceptive practices in the marketplace. The FTC also has authority to enforce a variety of sector specific laws, including the Truth in Lending Act, the CAN-SPAM Act, the Children’s Online Privacy Protection Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, and the Telemarketing and Consumer Fraud and Abuse Prevention Act. This broad authority allows the Commission
to address a wide array of practices affecting consumers, including those that emerge with the development of new technologies and business models.
This document summarizes a merchant processing program that offers zero fees. It provides merchants with no minimum, batch, report, or hidden fees, lowering their processing rates from 2-4.5% to zero. It discusses how merchants can use the savings to expand their business through new locations, hiring, or bonuses. The program is legal and allows merchants to offer a cash discount while adding a customer service fee to card transactions. Thousands of merchants have adopted this program to eliminate processing fees and profits.
The document discusses the transformation of digital transactions and payments. It covers the growth of PIN debit cards compared to signature debit cards in the US. It also discusses the growth of digital transactions through social networks like Facebook and Twitter and the rise of mobile payments. The document outlines challenges with security and regulations for digital payments and looks at potential future directions, including the growing role of digital currencies and peer-to-peer payment options outside of traditional banking models.
The primary goal of the screening process is to find a desirable tenant, typically a stable occupant who is a good credit risk and will not damage the premises or disturb other tenants.
This document provides a stock analysis report on Visa by Birkey Investment Group. It summarizes the payment card industry, analyzes Visa's financial performance and position within the industry, and recommends purchasing Visa stock. Visa dominates the global payment processing market with over 50% of transactions. It has strong financial trends in revenue, earnings, and margins that distinguish it from competitors like MasterCard. Visa's recent acquisition of Visa Europe will help it grow further in the European market. Based on this analysis, the report recommends Visa as a solid investment opportunity.
The class-action lawsuit filed against Heartland Payment Systems filed on behalf of credit card holders claiming their private, sensitive data was breached.
In December 2015 the Federal Trade Commission filed a lawsuit against a Gainsesville, Texas based company alleging it was engaged in an office supply scam against small businesses, non-profits and schools. The FTC obtained a restraining order against Liberty Supply Co., doing business as Omni Services. This is the complaint filed in Federal District Court in Texas by the FTC.
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
This class action lawsuit alleges that Forex Capital Markets (FXCM) engaged in fraudulent and deceptive practices that systematically depleted customers' trading accounts. The complaint alleges that FXCM used aggressive marketing to attract unsuspecting retail traders but manipulated prices and prevented customers from closing profitable trades, allowing FXCM to profit instead. The lawsuit seeks monetary and injunctive relief on behalf of customers nationwide for violations of RICO, state consumer protection laws, and breach of contract.
Consumers' financial rights are protected by federal and state laws and regulations covering many services offered by financial institutions.
*All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
The Consumer Protection Act of 1986 and its subsequent amendments aim to protect consumers from unfair trade practices. The Central Consumer Protection Authority (CCPA) was formed under the Consumer Protection Act of 2019 to promote and enforce consumer rights. The CCPA has powers to investigate businesses, recall unsafe products, impose penalties for violations of law, and handle consumer complaints. To file a complaint, a consumer must submit a written complaint to the appropriate consumer disputes redressal forum along with documents and court fees. Remedies available to consumers include refunds, replacement of goods, compensation, and cessation of unfair trade practices.
Official Motion to add 200 new plaintiffs to the Armando Montelongo Lawsuit. This outlines how attempts to Arbitrate the case failed due to Montelongo refusing to follow the American Arbitration Association Rules, thus they declined to arbitrate the case and asked he remove their name from clauses in the contract. In addition, new plaintiff's have approached the case with similar details of fraud. See additional file with documentation supporting the case, or get a synopsis at http://www.jeannorton.com/armando-montelongo-rico-doubles/
In this presentation delivered at the Law Society of Upper Canada’s Six Minute Business Lawyer Conference on June 6, 2013, Bill Hearn addresses recent developments and trends in Canadian consumer protection law.
This document summarizes key areas of consumer law in the United States, including laws around deceptive advertising, labeling and packaging, sales practices, credit protections, and consumer health and safety. It discusses regulations prohibiting puffery and bait-and-switch advertising tactics. It also outlines federal statutes governing truthful information in lending, credit reporting, debt collection, and wage garnishment. Finally, it mentions laws establishing oversight of food and drug safety and consumer products.
This document discusses auto dealer advertising compliance and the challenges involved. It notes that while advertising can generate sales, non-compliant ads can result in legal and regulatory issues. The document outlines federal and state laws governing advertising and why they are difficult for dealers to navigate. It provides examples of advertising practices that typically trigger enforcement actions and emphasizes the importance of truth, clarity and disclosures in all advertising platforms and materials. The conclusion reiterates that compliance is important to avoid costly fines, lawsuits and reputational damage.
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Similar to Public Policy in Private Markets Essay-DOJ vs Amex et al (20)
Public Policy in Private Markets Essay-DOJ vs Amex et al
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DOJ v Amex et al.
On October 4th, 2010, the United States Department of Justice, by its attorneys under the
leadership of the Attorney General; the State of Connecticut, by its Attorney General Richard
Blumenthal; the State of Iowa, by its Attorney General Thomas J. Miller; the State of Maryland,
by its Attorney General Douglas F. Gansler; the State of Michigan, by its Attorney General
Michael A. Cox; the State of Missouri, by its Attorney General Chris Koster; the State of Ohio,
by its Attorney General Richard Cordray; and the State of Texas, by its Attorney General Greg
Abbott (henceforth called Plaintiffs) filed a civil antitrust claim against the American Express
company along with its subsidiary American Express Travel Related Services Company Inc.,
Mastercard and Visa (henceforth called Defendants).
There are two specific product markets relevant to this complaint: the General Purpose
Card network services market and the General Purpose Card services network market for
merchants in travel and entertainment (T&E) industries. General Purpose Card network services
enable merchants to obtain authorization for, settle and clear transactions for customers who pay
with General Purpose Cards. Merchant acceptance of General Purpose Cards is defined and
retrained at the network level, with prices to merchants established by the networks. Merchants
accept General Purpose Cards because millions of consumers prefer the use of General Purpose
Cards to any other form of payment. High numbers of consumers use General Purpose Cards
because of security, convenience and widespread acceptance. Each Defendant’s network
provides services only for its own General Purpose Cards, and any merchant wishing to accept
General Purchase Cards must purchase network services. While other forms of payment are
available outside this relevant market, there is no reasonable substitute for these network services
from the viewpoint of merchants. Within this relevant market there is a separate price
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discrimination market for merchants in the T&E businesses. The Defendants charge different
customers different prices for the same service even though these price differences are not a
result of differing costs. Defendants recognize T&E businesses as its own distinct market
because almost all consumers of T&E services find it more convenient to use General Purpose
Cards to complete purchases. American Express for example has had a T&E Industries Business
Unit for many years. This shows that network services for T&E merchants is treated as a distinct
market with clear price discrimination. The United States is the relevant geographic market for
both General Purpose card network services and network services for T&E merchants.
The Defendants possess substantial market power by maintaining the three largest
transaction networks in the credit and charge card industry within the United States. The
Department of Justice found that 16% of American Express cardholders use only American
Express and no other General Purpose Cards, this high cardholder persistence on using American
Express gives American Express significant market power over merchants, essentially forcing
them to support American Express or lose customers. In most cases, for merchants to remain
competitive with other merchants they have no choice but to accept all Defendants’ General
Purpose Cards. The Department of Justice also found that Defendants are able to discriminate in
prices between different types of merchants, another reflection of their substantial market power.
Merchants in industries that rely more heavily on General Purpose Cards, such as T&E
merchants, are charged a higher price because Defendants know they have no other choice if
they wish to keep their business. Defendants’ market share, which is a commonly accepted way
to measure market power, was 94% of the dollar volume of General Purpose Cards issued in the
United States in 2009. In 2009 alone cardholders made purchases with American Express credit
and charge cards totalling $419.8 billion, a market share of 24%; purchases with Mastercard
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credit and charge cards totalling $476.9 billion, accounting for a 27% share of the market; and
purchases with Visa credit and charge cards totalling $764.2 billion with a market share of 43%
according to Nilson data. In total $1.6 trillion flowed through the Defendant’s networks, this is a
substantial amount of interstate commerce.
With each purchase made by consumers using one of the Defendants’ credit or charge
cards, the merchant from whom the purchase is made must pay a “swipe fee”, significantly
raising costs for merchants. Defendant’s fees ultimately get passed on to consumers in the form
of higher retail prices, in 2009 the fees collected by Defendants and their affiliated banks from
merchants totalled $35 billion. By imposing certain Merchant Restraints the Defendants insulate
themselves from competition and harm consumers in the process. Merchants are deterred from
promoting competing credit and charge cards with lower fees, so merchants and consumers have
little choice but to pay out substantial fees to Defendants. Merchant Restraints prevent merchants
from offering discounts to customers who use credit or charge cards from a competing network
that are less costly for the merchant. This further hinders merchants from stimulating competition
among credit and charge card networks at the point of sale, where consumers interact directly
with the merchant. By enforcing these Merchant Restraints, each Defendant deliberately stifles
competition, violating Section 1 of the Sherman Antitrust Act.
The United States delivers this action in accordance with Section 4 of the Sherman Act in
order to secure equitable relief and bring an end to violations of Section 1 of the Sherman Act.
Connecticut, Iowa, Maryland, Michigan, Missouri, Ohio, and Texas delivers this action on behalf
of their citizen’s general welfare and respective State economies in accordance with Section 16
of the Clayton Act to prevent violations of Section 1 of the Sherman Act. Under Section 16 of
the Clayton act "any person, firm, corporation, or association" may seek injunctive relief against
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the threat of losses or damages caused by violation of the antitrust laws. (Gulledge) By seeking a
civil suit rather than a criminal suit the Plaintiffs do not need proof beyond a reasonable doubt, if
Defendants are found guilty it opens the door for private class action lawsuit whereby
Defendants would be forced to pay reparations to consumers who have suffered injuries as a
result of the alleged violations.
MasterCard and Visa agreed to a settlement with the Department of Justice. The
Defendants MasterCard and Visa have not admitted and do not admit the participating in the
prohibited conduct brought up by the Plaintiffs, or any liability or wrongdoing. In the settlement
section IV describes the prohibited conduct that the defendants are subject to after agreeing with
the settlement. The purpose of this section is to allow merchants to attempt to influence the form
of method of payment that a customer selects by providing choice and information in a
competitive market. Section IV.A prevents MasterCard and Visa from doing anything that will
either directly or indirectly prevent any merchant in the United States from any of the following:
● Offering the customer a discount or rebate at the point of sale if the customer
chooses to change the initial form of payment to use another card or form of
payment;
● Offering free or discounted product if a customer uses a specific method of
payment differing from the initial form;
● Giving consumers free, discounted, or enhanced service if they choose to use
another form of payment that differs from the original form;
● Offering incentive, encouragement, or benefit for using specific forms of
payments that aren’t the original;
● Showing a preference for a specific general purpose card or form of payment;
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● Promoting particular brand of type of general card or method of payment through
posting information, or the advertising payment choices or any other form of
communication with the customer:
● Giving the customer a reasonable guess or actual costs of the merchant when the
customer chooses to use specific method of payments;
● Participating in any other form substantially similar to the practices described
above.
Section IV.B details what the defendants are not prohibited from doing, provided that
there is compliance with antitrust laws, the Dodd-Frank Wall Street Reform, the Consumer
Protection Act of 2010, and any other applicable state or federal law. The Defendants are
permitted to:
● Enforce existing agreements or enter into agreements in which a merchant
chooses cards with the Defendants brand as the only method of payment that they
accept for goods and services;
● Enter or enforcing agreements where a merchant agrees to encourage customers
to use co-branded cards with both the Defendants brand and the co-brand as
payments for goods and services and not promote other general purpose cards of
any other competitor;
● Entering or enforcing agreements where the merchant can encourage customers to
use their specific brand through the practices outlined in section IV.A and to not
do the same for another brand if and only if the agreement is individually
negotiated and isn’t part of a standard agreement generally offered to multiple
merchants, and the merchant’s acceptance of the defendants payment service for
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goods is unrelated to and not required upon of the merchant to enter into the
agreement;
● Creating and enforcing rules that prohibit merchants from coaxing customers to
pay for goods or services with its general purpose card issued by one specific
issuing bank rather than another issued by any other issuing bank
Along with these allowances MasterCard and Visa will not be prohibited from creating
and enforcing rules that stop merchants from belittling their brands. The last restriction placed
upon the Defendants is that they may not make or enforce any rule or agreements that prevent
the customers, using the defendant’s card service, from detailing costs or fees the merchant
incurs if they accept the form of payment.
In order for the DOJ to monitor the firms’ compliance with the settlement they are
permitted to inspect, copy, or require the defendant to provide hard and electronic copies of all
books, ledgers, accounts, records, data, and documents that are relevant to the settlement. They
also have the right to interview the defendant’s officers, employees, or agents about relative
information. The DOJ also has reserves the right to request written reports from the defendants
that require them to get an independent audit related to the settlement at the expense of the
Defendant. The Defendants could also be required to answer questions under oath.
American Express did not settle with the DOJ. They brought forth many economic
arguments during the trial. The plaintiffs claimed that its adverse effect test for non-
discriminatory provision showed a disruption in price setting mechanisms. According to Amex
they never really showed the actual effect on Amex’s two sided price level, or any other price.
The stance the plaintiffs took was a “quick look” analysis which is flawed because it was meant
to be used for markets in which anyone with a basic understanding of economies would conclude
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that the actions in question would have anticompetitive effects on customers and markets. The
government claimed that the analysis of the second side of the market was not necessary; this
went against their own economic expert Professor Katz who said that in a two sided market you
must analyze both sides because changes in price cannot adequately be assessed by only looking
at one side.
The DOJ also failed to prove that the anti-discriminatory practices employed by Amex
had an adverse effect, even if they only looked at one side of the market. Again Professor Katz
said that merchant discount fees could increase; this increase is seen in the 3 million locations
where Amex is not accepted and MasterCard and Visa are. At these 3 million locations merchant
discount fees increased for 4 years and retail prices at these locations haven’t decreased which
shows that the DOJ’s theory is flawed. The DOJ is also flawed in their theory that low cost to
merchant strategy works. Discover is proof of the flawed theory. Discover which has more
cardholders that Amex but substantially less than MasterCard and Visa would not have any
success trying to convince merchants to “steer” toward its card because the merchants risk
alienating the two larger competitors. Visa’s “we prefer” campaign also demonstrates that
discount fees did not drop instead they went even higher. Amex has many more economic
arguments including the fact that non-discrimination provisions have significant pro-competitive
advantages by driving competition in markets, and the fact that the DOJ failed to establish less
restrictive alternatives to non-discriminatory prices. Amex also had a broader definition of the
relevant market which included debit cards. The last argument was that the DOJ failed to
establish evidence that Amex had significant market power to the point where it had the ability to
price above competitive level. The conclusion that the courts concluded was that the Plaintiffs
proved with evidence that the conduct in question was a violation on trade under Section 1 of the
8. Kevin Rivas De Paz
Sherman Act. The court encouraged the remedies of the decision to be settled out of court
because the court thinks that the parties would be better off determining how Amex will change
its merchant regulations so that it can satisfy both Amex’s interest and still be in line with the
Sherman Act.
In efforts to calculate the damages to society caused by this conspiracy, the main focus is
to figure out how the consumer’s were affected. Economically, how would card user’s lives
differed had these credit card companies not conspired against them? A viable way to estimate
the amount lost by consumers would be to look at the profits these companies made through their
rule not allowing merchants to prefer a different card at a point of sale. Merchants pass these fees
on to the consumers by charging higher prices, causing damage to the consumer economically. In
2009 these card companies and their banks amassed $35 billion from merchants. It would be safe
to say the amount made off consumers was even more considering the merchants can charge
even more. In addition, assumptions have to be made about future losses, which starts with the
base year being accurate. In many cases the courts tend to overcharge the defendant which is
huge problem in the calculations. There are a great amount of uncertainties when dealing with
civil compensations for consumers. A fair calculation for the damage to society would be to
multiply the total profits made in this conspiracy by 1.5. The extra amount of compensation can
be attributed to inflation, potential investments, and a loss of income for each consumer who lost
money due to the conspiracy at hand. There is no set in stone way to calculate the damages to
society by these credit card companies, but with economic analysis a more accurate estimation of
the damage caused to society can be done.
References:
9. Kevin Rivas De Paz
<Injunctive Relief Under Federal Antitrust Laws; Law Office of Cathleen A. Gulledge, LLC;
accessed 3/6/15 at: http://www.estateplan4u.com/articles/injunctive-relief-under-federal-
antitrust-laws/>
"Antitrust Case Filings." USDOJ: Antitrust Division U.S. and Plaintiff States v. American
Express Company, Et Al. Web. 7 Mar. 2015.
<http://www.justice.gov/atr/cases/americanexpress.html>.
Pitts, David. "Calculating Economic Damages: In Plain English." Calculating Economic
Damages: In Plain English. N.p., 31 Mar. 2012. Web. 06 Mar. 2015.