New York Fed Conference: Antitrust Activity in Card-Based Payment Systems: Causes and Consequences

The Federal Reserve Bank of New York has announced a conference to be held on September 15 and 16 in New York City examining antitrust activity in card-based payment systems.

In recent years, credit and debit card systems have been the focus of significant antitrust inquiries and actions. Card-based payment businesses in Asia, Australia, Europe, and North America have been investigated for their methods of determining interchange fees, exclusivity arrangements, no-surcharge rules, honor-all-cards rules, membership requirements, and governance policies.

Antitrust activity worldwide has many similarities, such as a focus on interchange fees, and many differences, such as exclusivity rules in one country and no-surcharge rules in another. In addition, antitrust efforts directed at debit card and credit card systems show similarities and differences.

This conference's focus is two-pronged: to present research on the cause and on the effects of antitrust actions. The organizers of the conference hope to address the need for better information on the efficacy of the different remedies mandated by the courts worldwide.