Federal Judge Rejects $30 Billion Visa, Mastercard Swipe-fee Settlement
Via Reuters
Summary
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.
