Apple News Today The swipe-fee settlement that could spell trouble for your rewards card
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Nov 14, 2025 A potential settlement between Visa and Mastercard may lead merchants to stop accepting popular rewards cards, causing a stir among consumers. The government shutdown has created significant economic data gaps, leaving employers and policymakers in the dark. Pulitzer Prize-winning photojournalist Lynsey Addario shares harrowing experiences from her career, including how her impactful images of the Ukraine conflict changed global perspectives. Plus, a rundown of recent news highlights, including an ICE detention ruling and a hotel bankruptcy.
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Shutdown Left Critical Data Blind Spots
- The shutdown created gaps in key economic data, notably an incomplete October jobs report without an unemployment rate.
- Missing data complicates Fed decisions and obscures whether weak hiring is labor supply or demand driven.
Settlement Could Alter Card Acceptance
- A proposed Visa/MasterCard settlement could let merchants refuse or surcharge certain credit cards, changing how cards are accepted.
- That could hurt holders of high-rewards cards if businesses choose to reject or add fees to cover swipe costs.
Swipe Fees Fuel Longstanding Lawsuit
- Merchants sued Visa and MasterCard over swipe fees in 2005, arguing fees and acceptance rules were anti-competitive.
- Merchants paid over $100 billion in swipe fees last year, driving tension with high-rewards card costs.