Judge Rejects the $30 Billion Visa and Mastercard Settlement
Via Reuters
The Story
A U.S. district judge rejected a $30 billion antitrust settlement between Visa, Mastercard, and merchants, ruling that the proposed limits on "swipe fees" were insufficient.
The decision—applauded by major retail groups who argued the deal offered only temporary relief—now potentially forces the credit card giants to negotiate more favorable terms or face a federal trial.
The decision—applauded by major retail groups who argued the deal offered only temporary relief—now potentially forces the credit card giants to negotiate more favorable terms or face a federal trial.
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