Amex, Justice Department Square Off in Fee Battle
American Express charges the highest average fees of any card network and Amex’s rules prevent retailers from taking steps to reduce those costs, the Department of Justice argued in court on July 7.  more »
Image: Bloomberg News
A recent GAO report called for the Consumer Financial Protection Bureau to be involved in interagency discussions about virtual currencies, but others say the bureau's jurisdiction is murky, technology may move too fast for consumer rulemaking and too much regulation too early could kill innovation.  more »
In widely anticipated legislation on Bitcoin, Canada is regulating digital currency businesses under existing rules for money movement and California is updating its laws to legalize the use of alternative currencies.  more »
The Ben Thanh market in Ho Chi Minh City
MasterCard and Sacombank are equipping the Ben Thanh market in Vietnam with mobile point of sale capabilities, introducing digital payments to what had been a cash only market for more than a century.  more »

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