Supreme Court rules for American Express in credit card case

[Eugene]

Source: Associated Press

21 minutes ago

WASHINGTON (AP) — The Supreme Court is leaving in place a ruling for American Express in a lawsuit over rules it imposes on merchants who accept its cards.

The high court ruled 5-4 Monday in favor of American Express.

The Obama administration and a group of states sued American Express in 2010. They argued that American Express was violating federal law with rules that prevent merchants who accept its cards from encouraging customers to use other credit cards that cost merchants less in fees.

A federal trial court ruled against American Express, but an appeals court reversed that decision and ruled for company.


Read more: https://apnews.com/c434dae6be7d48599f487c8594af451e/Supreme-Court-rules-for-American-Express-in-credit-card-case

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Short article. No more at link.

[GeorgeGist]

1. Hopefully this will backfire bigtime on AMEX ...

with more merchants refusing to accept their cards. Period.

[maxrandb]

2. Of course they did

5-4...hmmm, let me guess which 5.

See what happens when you "go high"?

[The Mouth]

3. but ... her emails? and the wall street speeches

/sarc

[Proud Liberal Dem]

6. This is what happens

when Republicans violate norms and keep SCOTUS seats open for "the next President", when Russian-supporting groups hack e-mails of political parties, when Russia uses cyber/psychological warfare to support their preferred candidate, when "progressives" choose totally off-the-wall third party Presidential candidates over an actual viable progressive candidate or simply refuse to vote against somebody like Trump, when people just get stupid and vote for Trump so that they can "stick it" to the libs.

[asiliveandbreathe]

4. I would bet AMEX really doesn't want this pumped up -USE

credit cards that cost merchants less in fees - that is an easy - I cancelled my AMEX in 2010 - actually, any credit card I have is for the simple fact it keeps my credit rating higher..I will use once every so often, just to keep it active...99% of my purchases are cash......

Why would I want my retailers spending more by using AMEX...just makes cost of goods increase...see EASY!

[IthinkThereforeIAM]

5. I pay cash as much as possible...

... it is no one's concern which businesses I patronize.

[csziggy]

7. Shoot, I dropped my AMEX in 1979

We were on vacation and I offered my AMEX card to pay for some stuff. The store owner saw the Mastercard in my wallet next to it and asked if I could use it. She explained that AMEX charged much more in fees than MC and for a little shop like hers it cut into her profits. I obliged and as soon as we got home we closed that AMEX account.

[ProfessorGAC]

8. They Charge More In Fees. . .

. . .and they charge you and i for the privilege of having an Amex card. No thanks. I had one for business, but even that got changed to Visa.

[asiliveandbreathe]

10. I think I will watch AMEX stock.....