Welcome to the July 22, 2024 issue of The Green Sheet, where our lead article dives into the increasingly litigious nature of the payments industry. Recent judicial actions highlight the ongoing turmoil. A federal judge rejected a proposed settlement that sought to end the decades-long feud between the card brands and merchants regarding interchange and related issues. And the U.S. Supreme Court sided with a merchant who challenged the debit card interchange cap imposed by the Fed in accordance with the Durbin Amendment to the 2010 Dodd-Frank Act. The merchant plaintiff, a North Dakota truck stop, didn't even open for business until after the presumed statute of limitations on such legal challenges had run its course.
In addition to exploring the ramifications of these legal battles, this issue features insights from contributors into several topics of interest such as one man's positive impact on the industry and what kind of legacy each of us might want to leave; the fact that the customary line drawn between independent contractor and employee can be quite different from the legal line, and why it's important to know what the legal line is; a reminder that now is the time to help merchants plan their marketing for back-to-school, Halloween and the winter holidays; and why it's time for financial institutions to stop thinking of crypto as a prime example of risk that obliterates potential rewards.
We've also highlighted a selection of recent news stories. A group of lawmakers, led by Senator Ted Budd, R-N.C., are aiming to halt the Federal Reserve's proposal to lower debit card interchange fees. Called the Secure Payments Act, it would require the Fed to conduct a full impact study before proceeding. Electronic Payments Inc. introduced the POS Bill of Rights created to enhance merchant experiences by emphasizing transparency, trust, and satisfaction. Two other stories excerpted herein dig into aspects of the recent judicial actions explored in our lead article. You'll find these full stories, along with other breaking industry news and Q&As with industry leaders, under Breaking News on our homepage.
We've also included updates on industry appointments, acquisitions, partnerships, research, awards and other milestones, along with profiles and other resources. We're here to keep you informed in these dynamic times for our industry. Please send your news to press@greensheet.com and your comments to greensheet@greensheet.com. And enjoy your reading. 
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