Quote:
Originally posted by rowan
"Even though it has been over ten (10) months since PSW was terminated and no fines or penalties have been assessed by MasterCard or Visa, First Financial continues to hold back over $1.6 million in PSW?s reserve account and refuses to release the funds. ?Knowing that this lawsuit is coming, it is obvious at this point that they are holding these funds as ?leverage,? although I could probably use a stronger word to describe this tactic,? suggested John Lombardi, a principal of PSW."
Good to see it's all happening finally... although the article mentions that PSW were forced out of business, I have never seen any official notice or communication from PSW saying this.
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i do remember people posting emails regarding them "closing" the doors. i am sure they couldn't say much as to why because i believe they filed this suit just around the time of them going under.
now if PSW is as relentless in going after V/MC as Homegrown has been against Acacia, we could all be seeing some serious changes in the next few years.
it is about damn time.