Visa, Mastercard Settle Class Action Lawsuit - Articles

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Posted by: Chelsea Bennett on Sep 20, 2018

According to a filing Tuesday, Visa, Mastercard and several other U.S banks have reached a $6.2 billion settlement of a lawsuit over credit card fees, the New York Business Journal reports. The 13-year-old lawsuit was brought on behalf of approximately 12 million retailers; it alleged that the credit card companies violated federal antitrust laws.  A previous settlement of the suit had been reached but was thrown out by a federal appeals court in 2016. The new settlement awaits approval by the court.