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Article: Return of an Interchange Firebrand.
- Article from:
- American Banker
- Article date:
- November 2, 2009
- Author:
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Maria Aspan
A polarizing figure from past battles between merchants and payments companies has returned to the interchange debate with harsh words - for both sides.
Lloyd Constantine, who maneuvered the card industry into paying the largest antitrust class-action settlement in history, has resurfaced six years later with a book about the case and some surprising criticism about other lawsuits that he sees as riding his coattails.
For example, don't look for his unequivocal support of a long-running merchants' suit alleging that interchange constitutes antitrust violations and price fixing.
"I'm not commenting on the ultimate ...