• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
Changing Face of Security

NRF Wants FTC to Investigate Credit Card Giants Over Antitrust Worries

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
June 2, 2016, 4:32 PM ET
General Views Ahead Of Visa Earnings Reports
Visa Inc. credit and debit cards are arranged for a photograph in Washington, D.C., U.S., on Monday, Oct. 24, 2011. Visa Inc. is expected to release third-quarter earnings on Oct. 26. Photographer: Andrew Harrer/Bloomberg via Getty ImagesPhotograph by Bloomberg via Getty Images

The National Retail Federation asked the Federal Trade Commission to investigate an organization founded by credit card companies to set data security standards, saying the group’s practices raise antitrust concerns.

The Payment Card Industry Security Standards Council “fails to meet any of the principles adopted by the federal government for voluntary standard-setting organizations,” NRF General Counsel Mallory Duncan wrote to the FTC on May 23.

The PCI council was formed in 2006 by Visa (V), MasterCard (MA), American Express (AXP), Discover (DFS), and JCB International.

Get Data Sheet, Fortune’s technology newsletter.

NRF said the card companies use their market power to “unfairly leverage their brands and proprietary technology through webs of closely controlled interdependent bodies and compliance regimes” including the council.

The PCI council’s Data Security Standards are forced upon businesses that cannot refuse to accept credit and debit cards and the council acts as “as an anticompetitive barrier to innovation” as they exhausts funds and other resources retailers have available for data security, the letter said.

The PCI council said it strongly disagreed with the “unfounded assertions” in the NRF letter. “PCI SSC has an ongoing and productive dialog with the FTC and looks forward to discussing the NRF’s letter with them,” the council said.

The Federal Trade Commission said in March it has issued orders to nine companies, including cyber-security firm Mandiant and auditing firm PricewaterhouseCoopers, requiring them to provide information on how they conduct assessments of companies to measure their compliance with the PCI council’s Data Security Standards.

The FTC was not immediately available for comment.

About the Author
By Reuters
See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.


Most Popular

placeholder alt text
Economy
Trump may have shot himself in the foot at the Fed, as Powell could stay on while Miran resigns from White House post
By Eleanor PringleFebruary 4, 2026
16 hours ago
placeholder alt text
Success
In 2026, many employers are ditching merit-based pay bumps in favor of ‘peanut butter raises’
By Emma BurleighFebruary 2, 2026
3 days ago
placeholder alt text
Investing
Tech stocks go into free fall as it dawns on traders that AI has the ability to cut revenues across the board
By Jim EdwardsFebruary 4, 2026
21 hours ago
placeholder alt text
Cybersecurity
Top AI leaders are begging people not to use Moltbook, a social media platform for AI agents: It’s a ‘disaster waiting to happen’
By Eva RoytburgFebruary 2, 2026
3 days ago
placeholder alt text
North America
Gates Foundation doubles down on foreign aid as U.S. government largely withdraws
By Thalia Beaty and The Associated PressFebruary 3, 2026
2 days ago
placeholder alt text
Politics
Peter Thiel warns the Antichrist and apocalypse are linked to the ‘end of modernity’ currently happening—and cites Greta Thunberg as a driving example
By Nick LichtenbergFebruary 4, 2026
12 hours ago

Latest in

Nevada Assemblyman Howard Watts
LawThe Boring Company
Key Nevada legislator says lawmakers will push for independent audit of altered public record in Nevada OSHA’s Boring Company inspection 
By Jessica MathewsFebruary 4, 2026
5 hours ago
A man in a suit wearing glasses.
Big TechAlphabet
Alphabet plans to double capex spending to a possible $185 billion—but it’s keeping CEO Sundar Pichai up at night
By Amanda GerutFebruary 4, 2026
6 hours ago
HealthDietary Supplements
The 6 Best Prebiotics of 2026: Tester Approved
By Christina SnyderFebruary 4, 2026
10 hours ago
Healthsleep
The Best Cooling Sheets of 2026: Personally Tested
By Christina SnyderFebruary 4, 2026
10 hours ago
broker
InvestingMarkets
S&P rings up 5th loss in 6 days as tech stocks drag index down, led by AMD’s 17.3% drop
By Stan Choe and The Associated PressFebruary 4, 2026
10 hours ago
electricity
EnvironmentElectricity
Over a million people are losing power during a freezing snowstorm while data centers nearby guzzle electricity
By Nikki Luke, Conor Harrison and The ConversationFebruary 4, 2026
10 hours ago