3.0.0 3086 2019-11-15T21:59:02Z 2019-11-15T21:59:02Z Senate S S 2008-06-05 110 ssju00 Judiciary Committee Senate Standing Referred to 2008-06-05T18:46:11Z Credit Card Fair Fee Act of 2008 110 5546 HR 2008-10-03 Placed on the Union Calendar, Calendar No. 588. Related bill CRS 2008-06-05 ssju00 Judiciary Committee Senate Read twice and referred to the Committee on the Judiciary. IntroReferral 2008-06-05 Sponsor introductory remarks on measure. (CR S5208-5210) IntroReferral B00100 9 Library of Congress 2008-06-05 Introduced in Senate IntroReferral 10000 9 Library of Congress D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. N B000611 Sen. Bond, Christopher S. [R-MO] CHRISTOPHER BOND R MO S. 2008-06-17 False Commerce Administrative law judges Antitrust law Contracts Credit cards Debit cards Fees Finance and Financial Sector Law Retail trade Commerce 00 2008-06-05 Introduced in Senate 2008-09-05T14:17:35Z Credit Card Fair Fee Act of 2008 - Authorizes providers of a single covered electronic payment system (e.g., Visa or Mastercharge credit cards) and any merchants to jointly negotiate and agree upon the fees and terms for access to such a system.

Defines covered electronic payment system as any system that has been used for at least 20% of the combined dollar value of credit and debit card payments processed in the most recent year.

Grants limited antitrust immunity to such providers and merchants, as well as to those providers who jointly determine among themselves the proportionate division of paid access fees.

Sets forth procedures to determine fees and terms for access to a covered electronic payment system.

Creates a panel of three full-time Electronic Payment System Judges, appointed by the Assistant Attorney General in charge of the Antitrust Division of the Department of Justice and the Chairman of the Federal Trade Commission, to determine the schedule of fees and terms for two-year periods. Outlines procedures for correcting overpayments, underpayments, and late payments as determined by the Judges. Subjects any determination of such Judges to judicial review.

Authorizes providers and merchants to engage in voluntarily negotiated access agreements. Declares that such an executed agreement shall supersede any fees or terms established by the Judges.

]]> Credit Card Fair Fee Act of 2008 Short Titles as Introduced Credit Card Fair Fee Act of 2008 Display Title Credit Card Fair Fee Act of 2008 Official Title as Introduced A bill to amend the antitrust laws to ensure competitive market-based fees and terms for merchants' access to electronic payment systems. Introduced in Senate 2008-06-05T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s3086is/xml/BILLS-110s3086is.xml 2008-06-05 Read twice and referred to the Committee on the Judiciary. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.