120 PCI Lawsuit
Tuesday 17th January, 2012
... the McCombs allege that the bank, and the payment card industry (PCI) in general, force merchants to sign one-sided contracts that are based on information that arbitrarily changes without notice, and that they impose random fines on merchants without providing proof of a breach or of fraudulent losses and without allowing merchants a meaningful opportunity to dispute claims before money is seized
"It’s just like Visa and MasterCard are governments," said Stephen Cannon, an attorney representing the McCombs. "Where do they get the authority to execute a system of fines and penalties against merchants? That’s a very important issue in this case."
Shades of Wikileaks, perhaps?