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On February 20, 2024, Capital One Financial Corporation (“Capital One”) shook the financial landscape by announcing its ambitious plan to acquire its rival, Discover Financial Services (“Discover”), in a landmark $35.3 billion all-stock transaction . This proposed merger, if approved by regulators, will herald the convergence of two giants in the credit card industry, promising significant implications for consumers, businesses, and the broader financial and electronic payments ecosystem.

The new final rule, which applies only to large credit card companies, allows only an imposition of an $8 fee on late payment of fees. Now, what is the difference between a larger credit card company versus a smaller credit card company? This is a very important thing to note because the new final rule only applies to a larger credit card company. A large credit card company is any company or any issuer, which has more than a million accounts.

Navigating the intricacies of the Law can be complex, but our law firm is here to assist you every step of the way. Whether you are a business seeking guidance on compliance with the Law or a consumer who believes their rights have been violated, we offer expert legal counsel and representation.

In the dynamic landscape of retail transactions, merchants often grapple with the intricacies of cash discounting and surcharging. These two pricing strategies, while appearing similar, carry distinct features and implications for both businesses and consumers. In this article, we delve into the essence of cash discounting versus surcharging, offering clarity on compliance, card brand rules, and the nuances that shape these practices.