Page 11 - GS140101
P. 11
News
Gleeson portrayed settlement objectors at the hearing as Maybe Jason Oxman, Chief Executive Officer of the
"afflicted by needless hyperbole." He said one merchant Electronic Transactions Association, struck the right
association principal posed the argument that merchants note. "Although ETA was not a party to this litigation, I
would be worse off if the settlement was approved than think it's good for all concerned to have this settlement
if the lawsuit went to trial and the plaintiffs then lost the behind us," he said. Oxman feels that legal wrangling
case. distracts financial service providers and merchants
alike from providing consumers with safe and reliable
Gleeson added that another settlement critic equated services .
settlement approval to "the deprivation of civil liberties in
the aftermath of a terrorist attack." A third opponent of Fed study confirms
the settlement "cast Visa and MasterCard as modern-day
Nazis, and warned me not to assume the role of [England's
World War II era prime minister] Neville Chamberlain," growth in electronic
Gleeson said.
feigned hysteria [of the settlement opponents at the payments
The judge stated that "the vitriol and poor behavior and
hearing] mask complex and difficult issues on which
reasonable merchants can and do disagree." Apparently, he payment pie continues to grow, driven
merchants overall did not disagree with the settlement, largely by credit and debit card payments.
as Gleeson said his decision to approve the settlement Meanwhile, although U.S. consumers are writ-
was strengthened by "the relatively small number of T ing fewer checks, they're writing checks for
opt-outs and absence of objections from class members" larger amounts, and virtually all those checks are clearing
to it. electronically. In fact, one out of six checks written in 2012
was deposited by the payee as an electronic image using
11
Gleeson portrayed settlement objectors at the hearing as Maybe Jason Oxman, Chief Executive Officer of the
"afflicted by needless hyperbole." He said one merchant Electronic Transactions Association, struck the right
association principal posed the argument that merchants note. "Although ETA was not a party to this litigation, I
would be worse off if the settlement was approved than think it's good for all concerned to have this settlement
if the lawsuit went to trial and the plaintiffs then lost the behind us," he said. Oxman feels that legal wrangling
case. distracts financial service providers and merchants
alike from providing consumers with safe and reliable
Gleeson added that another settlement critic equated services .
settlement approval to "the deprivation of civil liberties in
the aftermath of a terrorist attack." A third opponent of Fed study confirms
the settlement "cast Visa and MasterCard as modern-day
Nazis, and warned me not to assume the role of [England's
World War II era prime minister] Neville Chamberlain," growth in electronic
Gleeson said.
feigned hysteria [of the settlement opponents at the payments
The judge stated that "the vitriol and poor behavior and
hearing] mask complex and difficult issues on which
reasonable merchants can and do disagree." Apparently, he payment pie continues to grow, driven
merchants overall did not disagree with the settlement, largely by credit and debit card payments.
as Gleeson said his decision to approve the settlement Meanwhile, although U.S. consumers are writ-
was strengthened by "the relatively small number of T ing fewer checks, they're writing checks for
opt-outs and absence of objections from class members" larger amounts, and virtually all those checks are clearing
to it. electronically. In fact, one out of six checks written in 2012
was deposited by the payee as an electronic image using
11
