Supreme Court rules in favor of AmEx

In the 5-4 opinion written by Justice Clarence Thomas, the Supreme Court ruled in favor of an American Express policy that prevents retailers from offering customers incentives to pay with less-expensive cards. The court’s decision is a loss for group, which had brought the challenge to American Express’ policy  prohibiting retailers and other businesses from […]

In the 5-4 opinion written by Justice Clarence Thomas, the Supreme Court ruled in favor of an American Express policy that prevents retailers from offering customers incentives to pay with less-expensive cards.

The court’s decision is a loss for group, which had brought the challenge to American Express’ policy  prohibiting retailers and other businesses from offering consumers discounts or incentives for using a card from a different issuer.  The court ruled that government antitrust enforcers were unable to meet their burden of proving that the AmEx anti-steering rules harmed consumers.

 

For retailers, the decision means merchants that accept AmEx cards won’t be able to ask customers to use other cards for purchases.

Following the ruling, the National Retail Federation said the decision “will perpetuate a system that costs merchants and consumers billions of dollars a year.” Read the full article here.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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