FACTA (Fair and Accurate Credit Transactions Act)
Passed in 2003, the Fair and Accurate Credit Transactions Act enables consumers to request a free credit report from the top three credit reporting companies. These free...Learn More
Merchants are charged a fee for the processing services that enable them to accept cards as payment. This fee, called the “merchant discount” or “discount rate,” is negotiated with each merchant during the sales process. The discount rate is usually a percentage of the merchant’s sales volume.
The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.Learn More