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Old 04-06-2019, 07:42 PM   #4
Apache
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Join Date: Sep 2011
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The Visa/MC one has been in the works for years. Visa/MC have been delaying it. It looks like it has been settled.
Quote:
Visa Inc, Mastercard Inc, and a number of U.S. banks on Tuesday agreed to pay $6.2 billion to settle a long-running lawsuit brought by merchants over the fees they pay when they accept card payments.
Visa and Mastercard previously reached a $7.25 billion settlement with the merchants in the case, but that deal was thrown out by a federal appeals court in 2016 and the U.S. Supreme Court last year refused to revive it. The lawsuit, brought on behalf of about 12 million retailers and dating back more than a decade, accuses the credit card companies of violating federal antitrust laws by forcing merchants to pay swipe fees and prohibiting them from directing consumers toward other methods of payment.
In rejecting the earlier settlement, which was opposed by retailers including Amazon.com Inc, Costco Wholesale Corp and Walmart Inc, a federal appeals court found that the accord was unfair because some retailers would receive little or no benefit.
The complete article here: https://www.reuters.com/article/us-u...-idUSKCN1LY1PQ
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