Aug. 10, 2018 — Maurice Wutscher attorney Jeffrey Karek has written two articles published in the most recent issue of Business Law Today’s Month-In-Brief: Business Regulation & Regulated Industries.
In “Sixth Circuit Rejects Account NSF Claims,” Mr. Karek discusses Lossia v. Flagstar Bancorp, Inc. in which the U.S. Court of Appeals for the Sixth Circuit “determined that because the agreement stated transactions would be processed as they occur ‘on their effective date,’ and not necessarily the actual date that each transaction was initiated, and since the unrebutted evidence demonstrated that the bank followed the terms of the agreement in how it processed the consumer’s ACH transactions, there was no breach of contract.”
In “SCOTUS Rules Credit Card Company’s Anti-Steering Rules Did Not Violate Antitrust Law,” Mr. Karek breaks down the U.S. Supreme Court’s recent 5-4 decision in Ohio v. Am. Express Co.
“Ultimately, the Supreme Court held that the government did not meet its burden to prove anticompetitive effects in the relevant market, noting that it staked its ‘entire case on proving that [the credit card company’s] agreement increase[d] merchant fees,’ which the Court found ‘unpersuasive,'” he writes.