Minnesota AG Sues Texas Credit Card Firm
ST. PAUL, Minn. (AP) — Minnesota's attorney general is suing a Texas credit card processor, accusing it of misleading small businesses with promises of cost savings and then charging higher hidden fees.
The lawsuit filed Wednesday in Hennepin County also accuses Apex Merchant Group of Plano of altering signed contracts to net higher fees. It says Apex had agreements with more than 600 small businesses to process their credit card payments since 2008.
"Small businesses employ over half of our employees and often operate on thin margins. They cannot afford to be ripped off by credit card servicers," Attorney General Lori Swanson said.
The lawsuit didn't include an estimate of the alleged overcharges.
Brant Noland, Apex's senior vice president of sales, said he wasn't aware of the lawsuit and couldn't comment. A message left for the company's chief executive wasn't immediately returned.
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