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A federal judge Tuesday rejected a $30 billion antitrust settlement between Visa, Mastercard and a select group of retailers that was decried by the larger industry. Visa and Mastercard, which ...
The payment card interchange fee and merchant discount antitrust litigation is a United States class-action lawsuit filed in 2005 by merchants and trade associations against Visa, Mastercard, and numerous financial institutions that issue payment cards.
Visa and Mastercard announced a major settlement with U.S. merchants on Tuesday, potentially ending nearly two decades of litigation over the fees charged every time a credit or debit card is used ...
A U.S. judge on Tuesday rejected a $30 billion antitrust settlement in which Visa and Mastercard agreed to limit fees they charge merchants who accept their credit and debit cards. U.S. District ...
The lawsuit was a challenge to a 2011 regulation of the Federal Reserve Board setting the maximum fees that large banks can charge merchants for a debit-card transaction, [4] but the question before the Supreme Court was limited to whether the case was properly dismissed because of the statute of limitations. [5]
Interchange fees or "debit card swipe fees" are paid to banks by acquirers for the privilege of accepting payment cards. Merchants and card-issuing banks have long fought over these fees. Prior to the Durbin amendment, card swipe fees were previously unregulated and averaged about 44 cents per transaction. [3] Merchants lobbied heavily for a rule to limit debit card swipe fees. [4] They ...
A federal judge in Brooklyn rejected a parallel settlement in June that would reduce swipe fees by an estimated $30 billion over five years and require Visa and Mastercard to lift some rules that ...
Mastercard is a global payment processing company that offers credit, debit, and prepaid card services to consumers and businesses.